(Yahoo! Finance) – NEW YORK, Dec 30 (Reuters) – Merrill Lynch and U.S. Trust reached out to some high-powered clients this quarter to invest in a social-impact bond whose proceeds finance a program to lower recidivism rates among ex-convicts in New York.
This simple yet powerful idea launched the field of global health and has inspired action and leadership among individuals, communities, and governments alike. Now, The Pershing Square Foundation is helping to advance global health delivery as a significant academic discipline by giving $4 million to establish an endowed professorship at Harvard Medical School.
By Emma Boyd (Financial Times) – Business schools seem to be doing well out of hedge funds of late. Just three months after Brevan Howard gave £20.1m to Imperial College Business School, the Pershing Square Foundation has announced a gift of £4.5m to Saïd Business School at Oxford university.
By Rachael Chong (Fast Company) – Bill Ackman is very wealthy. He’s trying to put that wealth to good use not through charity, but through investing it in high-impact organizations. The trick is finding the ones that both give returns and make a difference.
By Alexander Stein (FastCompany) – As part of our series on generosity in business, we’re looking at some of the financial wizards who are using their skills and assets to give back to society in the most impressive and inspiring ways.
By Theresa Agovino (Crain’s New York Business) – The Innocence Project received a $1 million donation—its largest ever—from the Pershing Square Foundation.
By Julia La Roche (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.
By Mitch Nauffts (Philanthropy News Digest) – Some of Bill Ackman’s earliest memories “include my father’s exhortations about how important it is to give back.” That disclosure is included in the “pledge” letter Ackman wrote on joining the Giving Pledge campaign earlier this year.
By Patrick Cole (Bloomberg Business Week) Bill Ackman, chief executive officer of Pershing Square Capital Management LP, and his wife, Karen, have pledged $10 million to the New York-based Human Rights Watch Inc.
By Larry Rohter (The New York Times) – The Signature Theater is only going to unveil and move into its new home on 42nd Street next week, but it has already received one unusually generous housewarming gift: on Thursday the Pershing Square Foundation announced that it is donating $25 million to Signature