Bayliss, Shivansh Tiwary (Reuters) -Billionaire investor Bill Ackman said on Monday that he raised his stake in real estate company Howard Hughes, realizing a long-held dream of creating a diversified holding company modeled after legendary investor Warren Buffett's Berkshire Hathaway.

Billionaire hedge fund manager Bill Ackman spoke about the benefits an investment firm can realize from acquiring or building an insurance company and what it means for Howard Hughes Inc., in a CNBC interview on Monday.

FTSE 100 trust Pershing Square has made further steps towards billionaire manager Bill Ackman's aspiration to emulate Berkshire Hathaway.