Pershing Square to manage Vantage assets without additional fees after HHH acquisition closes

Howard Hughes Holdings announced completion of its acquisition of Vantage Group Holdings through a wholly owned subsidiary. The issuer said Pershing Square would manage Vantage's investment assets without additional investment-management or advisory fees. Pershing Square Holdings, the managed fund, provided USD 1 billion through HHH preferred stock to help finance the acquisition. HHH is the acquirer; the managed fund's financing and the manager's mandate are separate roles.