Reported 3 months ago
Seth Klarman's Baupost Group has opted out of investing in Bill Ackman’s upcoming US closed-end fund, which is set to price soon. Ackman had mentioned Baupost as a potential backer in a previous letter, where he aimed to raise between $2.5 billion and $4 billion, significantly less than the initial $25 billion estimate. While other investors like Putnam Investments and the Teacher Retirement System of Texas have committed funds, Baupost's decision not to participate leaves a notable gap in potential backing.
Source: YAHOO