Pershing Square Activist Presentation Deck
Total Assets Under Management and Skin in the Game
As of 2/8/2022 ($ in millions)
Pershing Square Holdings ("PSH")
Pershing Square, L.P. ("PSLP")
Pershing Square International ("PSI")
Total Core Funds
PS VII Funds (UMG Co-Investment Vehicle)
Total Firm
Total
AUM(¹)
$13,476
1,377
586
$15,439
1,194
$16,633
Equity
$10,474
1,377
586
$12,437
1,194
$13,631
Insider Capital
Total
$2,625
648
217
$3,490
247
$3,737
% of Equity
25%
47%
37%
28%
21%
27%
Note: Total AUM and Equity AUM includes PS VII Master, L.P. and PS VII A International, L.P. (together, the "PSVII Funds"), which operate as co-investment vehicles investing
primarily in securities of (or otherwise seeking to be exposed to the value of securities issued by) Universal Music Group N.V. without double counting any Core Fund's investment
in PS VII Master, L.P. As of 2/8/2022, PSH's investment in PS VII Master, L.P. totaled $236.6M. Assets under management are gross of any accrued performance fees.
(1) Total AUM includes $2.43 billion and €500 million (translated to USD at the prevailing exchange rate of 1.14) of PSH bond proceeds. Equity AUM excludes these amounts.
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