Howard Hughes, Bill Ackman and Vantage Group Holdings
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Summerlin’s developer has reeled in its first acquisition since hedge-fund magnate Bill Ackman widened its scope of operations. Howard Hughes Holdings announced Thursday that it reached a deal to acquire insurance firm Vantage Group Holdings for about $2.1 billion.
Few investors have more notoriety than Bill Ackman and Michael Burry, the latter portrayed in "The Big Short."
Bill Ackman has taken a decisive step in his effort to remake Howard Hughes Holdings from a Texas real estate developer into what he has described as a “modern-day Berkshire Hathaway ”, agreeing to buy the Bermuda-based property and casualty insurer Vantage Risk in a $2.1bn deal.
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