Pershing Square Holdings, led by billionaire investor Bill Ackman, announced that it plans to invest up to $1 billion in Howard Hughes Holdings (HHH) to support its acquisition of Vantage Group Holdings, a specialty insurance company. As part of the deal, Pershing Square will purchase non-voting preferred shares issued by Howard Hughes. In a separate announcement, Howard Hughes confirmed that it will buy Vantage for around $2.1 billion.
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It’s worth noting that Pershing Square is already the largest shareholder of Howard Hughes, and Ackman has been pushing to reshape the company into a diversified holding firm. More precisely, he hopes to model it after Berkshire Hathaway (BRK.B), which uses insurance operations to fund other investments. Notably, Vantage was founded in 2020 with $1 billion in equity from investment firms Carlyle Group (CG) and Hellman & Friedman.
The company was led by CEO Greg Hendrick and co-founder Dinos Iordanou. Carlyle and Hellman & Friedman later committed another $200 million in funding. According to Ackman, acquiring Vantage is a major step in Howard Hughes’ transformation. In addition, the deal, which will be financed through Pershing’s investment and Howard Hughes’ cash reserves, is expected to close in Q2 2026.
Is HHH Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on HHH stock based on two Buys, five Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average HHH price target of $95 per share implies 12.2% upside potential.
