The activist firm’s flagship hedge fund is still up for the year despite still holding shares of the embattled drugmaker.
Dan Loeb’s firm has taken a stake in the company and is pressuring it to spin off one of its divisions.
Shares of the drugmaker owned by ValueAct and dumped by Pershing Square closed at less than nine bucks apiece on Tuesday.
The troubled drug maker, a big holding of ValueAct Capital, gave hefty pay packages to top execs after a year when its stock tanked.
Alliance Data Systems and Tailored Brands are adding board members from hedge funds that invest in them.
Hedge fund shutdowns climbed to the highest number since 2008 last year, although assets reached a record high.
The hedge fund firm is raising its stake as Pershing Square bails out.
Some hedge funds are still big investors in the troubled drug company, which took a hit after it reported that revenues fell by double digits.
The hedge fund firm, headed by Jeff Ubben, did not suffer the same fate as other major shareholders of the ailing pharmaceutical concern.