The big secret to Bill Ackman’s comeback: marital bliss.
Ackman’s Pershing Square hedge fund is up nearly 40 percent this year. Aside from lucrative investments in Chipotle and Starbucks, Ackman on Tuesday gave credit to his new wife, the MIT professor Neri Oxman.
“It’s very helpful when you’re going through a difficult period to be in a great relationship” with someone who is “super-supportive, loving and warm and believes in you,” Ackman said Tuesday at the 13D Monitor Active-Passive Investor Summit in New York.
The rocky times Ackman was referring to lasted from 2015 through much of last year, as his fund saw its assets cut in half due to a $4 billion loss in Valeant, an ill-placed $1 billion short bet against Herbalife, and investor outflows.
In the middle of it, his marriage of 25 years to Karen Ann Herskovitz ended, late in 2016.
But in 2018, Ackman’s fortunes began to turn after he met Oxman. The two wed in January and are expecting a daughter later this month.