Bill Ackman’s Pershing Square Foundation goes off-Broadway with $25 million gift

The charity shelled out for a Gehry-designed New York theater.

The Pershing Square Foundation, the philanthropic arm of Bill Ackman’s $10.4 billion Pershing Square Capital Management, led in part by his wife Karen, recently announced a $25 million donation to New York’s Signature Theater, set to open off-Broadway this week. The Frank Gehry-designed venue, to be named “The Pershing Square Signature Center,” boasts three small theaters, rehearsal space, a café, bar and bookstore.

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