(Adds details, background)
By Michael Flaherty
Oct 6 A former partner at Pershing Square
Capital Management is preparing to launch a new fund, according
to a U.S. regulatory filing.
Paul Hilal, who left Pershing Square in January, is
launching Mantle Ridge LP, a New York-based investment fund, the
Hilal was a close lieutenant of Pershing's founder, William
Ackman, and was a driving force behind the activist fund's
investment in railroad operator Canadian Pacific Railway Ltd
. After leading a proxy fight against the company that
Pershing Square won, Hilal joined CP's board. He stepped down
from that post in January.
Hilal did not immediately return an email seeking comment.
Hilal, who roomed with Ackman at Harvard University, was a
Pershing Square consultant in 2006 before joining full-time the
When he left the firm, it was widely expected throughout the
activist investor community that he would launch his own
activist hedge fund.
The regulatory filing does not detail the precise approach
he will take with Mantle Ridge.
Mantle Ridge has a staff of four, according to the July 15
Hedge Fund Intelligence, an industry news publication and
data provider, was the first to report the filing.
(Reporting by Michael Flaherty in New York; Editing by Lisa
Shumaker and Steve Orlofsky)