The first analyst Bill Ackman hired for his Pershing Square fund in 2003, will be leaving within weeks to start his own hedge fund, Bloomberg Busienssweek reported. Scott Ferguson, now a partner at Pershing Square, was hired by Ackman fresh out of Harvard Business School in the fall off 2003, about six months before the inception of Ackman’s famous fund, which has returned 379% net of fees.
Ferguson, who’s 38 years old, has been speaking with Ackman about leaving the firm for a while now. Ackman, who launched Pershing Square at 37 years of age, believes that it’s an appropriate time for Ferguson to launch his own fund.
According to Scott Ferguson’s LinkedIn account, he’s a 1996 Stanford graduate and a 2003 graduate of Harvard Business School.
Like Ackman’s fund, Ferguson’s hedge fund will use an activist strategy and will conduct value-oriented research while pushing for internal changes at under performing companies.
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