Billionaire hedge fund manager Bill Ackman takes stake in Tel Aviv stock exchange

By DAILY MAIL CITY & FINANCE REPORTER

Updated: 17:03 EDT, 24 January 2024

Israel deal: Billionaire hedge fund manager Bill Ackman (pictured) runs New York hedge fund Pershing Square Capital Management

Billionaire hedge fund manager Bill Ackman and his Israeli-born wife Neri Oxman have agreed to buy a stake of almost 5 per cent in the Tel Aviv stock exchange.

One of the biggest investments in Israel since the outbreak of war in Gaza, the deal was part of a share sale to raise funds to invest in the exchange’s technology.

The cash call drew interest from investors in Israel, the US, Europe, and Australia, ‘reflecting a strong vote of confidence in both the Tel Aviv Stock Exchange and the Israeli economy’.

Ackman runs New York hedge fund Pershing Square Capital Management. He has been active in addressing anti-Semitism since the Hamas terrorist attacks on October 7.

He called on Claudine Gay to quit as president of Harvard University, amid criticism of her handling of anti-Semitism and failure to support Jewish students. Gay stepped down this month.

Ackman said: ‘Owning an exchange in a country with tremendous long-term growth potential is one of the best investments you can make’, adding: ‘It represents our support for Israel, and confidence in its economy and long-term future.’