Ackman’s divorce gets real

BILLIONAIRE investor Bill Ackman’s “big money” divorce from his wife of 25 years is being complicated by his new romance with an attractive French former ballerina.

We’re told that hedge fund titan Ackman — who Page Six exclusively revealed is heading for a big-money divorce from wife Karen Ann Herskovitz — has since started a relationship with a French businesswoman, who sources say is a former ballerina in her mid-40s.

One source told us, “After separating from Karen at the end of last year, Bill [in January] started dating a beautiful French businesswoman whois a former ballet dancer who lives in Paris. They have busy schedules, so they have only seen each other a few times. But his estranged wife is not happy about it.” Another friend insists of the former couple, who have three daughters, “Bill and Karen have had a civil, but not warm, relationship since they separated. Bill is moving back into the Beresford [the Central Park West building where he lived with Karen and the family]. Heis in the process of buying a two-bedroom apartment to be close to his kids.”

To make matters more tense, Ackman’s estranged wife is entitled to claim up to half of his fortune at the time of separation. Ackman was worth an estimated $1.65 billion last year.

But on March 13, he and investors of his firm Pershing Square Capital Management swallowed a nearly $4 billion loss on drug company Valeant. We’re told the loss was already accounted for before his divorce.

Another source tells Page Six, “With divorces involving a lot of money, there is a ‘stop the clock’ action, which happens when the divorce starts. The non moneyed spouse can claim up to half of what the moneyed spouse was worth when the clock was stopped, regardless of whether he or she made — or, in this case, lost — billions after that date.” This means that Herskovitz could walk away with $800 million since their divorce was initiated in December. Another source added, “Bill’s net worth has been flat since they separated.”

A spokesman for Ackman didn’t comment. Herskovitz didn’t get back to us.