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New Mexico public employees to exit Ackman's Pershing Square

NEW YORK, May 6 (Reuters) - New Mexico's public employees are taking their final chunk of money out of billionaire investor William Ackman's hedge fund Pershing Square Capital Management, the pension fund's chief investment officer said on Friday.

The $14 billion pension is asking the $12 billion hedge fund to return $13 million, the last remaining bit of a once larger investment, Jonathan Grabel, chief investment officer for the Public Employees Retirement Association of New Mexico told Reuters in a telephone interview.

Pershing Square was a top industry performer in 2014, when it delivered a 40 percent return. But more recently it has been close to the bottom, losing 20 percent last year.

Through April its Pershing Square International fund has lost nearly 15 percent while the average...


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