Bill Ackman and his Israeli-born wife take stake in Tel Aviv Stock Exchange

By Barbara Kollmeyer

Top hedge-fund manager Bill Ackman and his wife Neri Oxman have purchased a 4.9% equity stake in the Tel Aviv Stock Exchange.

Ackman has captured headlines over his reaction to antisemitism on Ivy League campuses after the Hamas attack on Israel, and Israel's ensuing attack on Gaza. He also led the campaign to oust university presidents including Claudine Gay from Harvard, after their testimony before Congress on whether calling for the genocide of Jews should be allowed on campus.

His Israeli-born wife Oxman meanwhile has been accused of plagiarism, the same charge leveled against Gay.

Read: Bill Ackman is currently waging five battles simultaneously

The Israeli exchange (IL:TASE) on Wednesday announced the stake sale as part of a secondary offering of 17.1 million shares at a price of 20.60 shekels each. After deducting commissions and other expenses, the exchange will receive around 242 million shekels ($65 million), which will be invested in its technology infrastructure.

The TASE said the offering drew "robust interest" from investors in Israel, the U.S., Europe and Australia, but mentioned no specific investors apart from Oxman and Ackman.

The TASE has gained 9% so far this year, following a 3% gain in 2023.

Ackman's Pershing Square Capital Management became one of world's best performing hedge funds in 2023, after previously falling off the list nine years ago. The New York fund has $17.9 billion in assets under management.

Pershing Square confirmed the stock exchange investment was made directly by Oxman and Ackman and not via the hedge fund.

-Barbara Kollmeyer

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01-24-24 0711ET

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