Why did you borrow three hundred million dollars from JP Morgan during your firm's crisis?
Replied byBill Ackman
Founder & CEO at Pershing Square Capital Management
Niche: Finance
Revenue: Not Publicly Disclosed/month
Location: New York City, New York, United States
Started: 2004
To stabilize the firm, we needed to show our public vehicle, Pershing Square Holdings, had permanent capital. I took out the largest personal unsecured loan in JP Morgan's history, using the money to buy a massive stake in the public fund, signaling my complete conviction to the market.
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