William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid
(Reuters) - Investor William Ackman has stepped out of his Nike sneakers, at least in a financial sense.
The billionaire investor's hedge fund Pershing Square Capital Management earned roughly $100 million (£70.8 million) in profit when it cashed out of its 0.71 percent stake in the sportswear company recently, a person familiar with the move said on Thursday.
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