Billionaire investor Bill Ackman’s hedge fund, Pershing Square Capital Management, is close to securing around $1 billion from big investors and wealthy families. They’re also thinking about going public in the future, according to someone who knows about the situation.
Investment Opportunities
Currently, Pershing Square manages about $16.3 billion in assets, and investors are estimating its value to be around $10.5 billion.
A report from The Wall Street Journal first talked about Pershing’s plans to raise money and possibly go public.
Around half of the $1 billion raised will be used to start a new investment fund called Pershing Square USA. This fund will be listed on the New York Stock Exchange, allowing anyone in the U.S. to invest in it, including regular people. The rest of the money will be used for other investment projects that the company has in mind.
This new fund will work similarly to Pershing’s existing hedge fund but will have lower fees and easier access to money. This might attract some of Ackman’s followers on social media.
Potential IPO
As for the IPO (initial public offering), it might happen sometime next year or even later, according to the source. Other investment firms like Man Group are already listed on the stock market.
Ackman’s business structure is said to be similar to Ares Management Corp and Blue Owl Capital, two other big investment firms.
Pershing Square had a good year in 2023, with a return of 26.7%, which was better than the overall stock market. The hedge fund, started by Ackman in 2004, is known for making big moves with the stocks it invests in.
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