Photo: Julia La Roche for Business Insider
Hedge fund titan Bill Ackman’s Pershing Square Capital Management and the Pershing Square Foundation helped do something truly remarkable this past Saturday. Employees from the hedge fund and the Pershing Square Foundation helped build and pay for a brand a new playground on an empty lot in Newark, New Jersey.
This was done in partnership with the Greater Newark Housing Partnership, the Urban League of Essex County, organisers from the non-profit KaBOOM! and residents of the Fairmount Heights neighbourhood.
With the new playground completed, now more than 600 kids in the Fairmount Heights neighbourhood will have a place to play that’s nearby. Before this, there wasn’t a playground within walking distance.
Community service outings like these are not only a great way to give back, but they’re also a fantastic way to build teamwork within a firm.
Speaking of teamwork, Ackman told Business Insider that a great team player is “someone who works hard, has always got someone else’s back, likes to have fun and has a lot of energy.”
Ackman also said that Pershing Square Capital Management hasn’t done a lot of these outings, but they made a decision early on in the year to start doing more as a fund.
“It’s great for the organisation, great for the community. Everyone wins.”