Renowned hedge-fund manager Bill Ackman and his wife, Neri Oxman, have made headlines with their recent purchase of a 4.9% equity stake in the Tel Aviv Stock Exchange.
A Vocal Advocate Against Antisemitism
One of the reasons Ackman has been in the spotlight is due to his vocal stance against antisemitism, particularly in the wake of the Hamas attack on Israel and Israel's subsequent response in Gaza. He made headlines by leading campaigns to remove university presidents, such as Claudine Gay from Harvard, who testified before Congress about whether advocating for the genocide of Jews should be allowed on college campuses.
Oxman's Plagiarism Accusations
Meanwhile, Oxman, who was born in Israel, has faced accusations of plagiarism, which is the same charge that was leveled against Claudine Gay.
Secondary Offering by TASE
The Tel Aviv Stock Exchange (TASE) recently announced a secondary offering of 17.1 million shares at a price of 20.60 shekels each. The sale, in which Oxman and Ackman participated, is expected to generate approximately 242 million shekels ($65 million). The funds raised will be invested in enhancing the exchange's technology infrastructure.
Ample Interest From Global Investors
The offering drew "robust interest" from investors across various regions, including Israel, the United States, Europe, and Australia. However, specific investors other than Oxman and Ackman were not disclosed.
Positive Performance by TASE
The Tel Aviv Stock Exchange has witnessed a 9% increase so far this year, building upon a 3% gain achieved in 2023.
Ackman's Resurgence in the Hedge Fund Industry
Pershing Square Capital Management, founded by Bill Ackman, has recently regained its status as one of the world's top-performing hedge funds. After falling off the list nine years ago, the New York-based fund now manages a total of $17.9 billion in assets.
Pershing Square Capital Management chose not to comment on this matter.