Invoice Ackman, founder and CEO of Pershing Sq. Capital Administration.
Adam Jeffery | CNBC
Hedge fund supervisor Invoice Ackman reportedly thinks WeWork might be nugatory, noting Japanese funding big SoftBank “ought to have walked away” from it.
“I feel WeWork has a fairly excessive chance of being a zero for the fairness, in addition to for the debt,” Ackman, founding father of hedge fund Pershing Sq. Capital Administration, mentioned on the Robin Hood investor convention on Tuesday, based on The Monetary Occasions. “As somebody who has put good cash after unhealthy, I feel this appears to be like like placing good cash after unhealthy.”
Pershing Sq. couldn’t be reached for remark.
WeWork just lately shelved its plans to go public because the shared-workspace firm didn’t drum up demand for its IPO. Quickly after, the corporate confronted questions on its valuation, which as soon as ranged between $60 billion and $90 billion.
Final week, SoftBank agreed to take an 80% stake in WeWork and introduced a $5 billion financing bundle in an effort to show across the firm.