Ackman hopes to leverage public image to boost new investment fund

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Financial Times 17h ago

Ackman hopes to leverage public image to boost new investment fund - Financial Times

Quick Summary:

The billionaire hedge fund manager is soliciting investments for a listed fund of up to $25bn called Pershing Square USA, which if successful, would make it one of the largest IPOs of all time, rivalling oil major Saudi Aramco and Chinese tech giant Alibaba.

The new fund will be structured as a management company listed on the New York Stock Exchange and will invest in large, publicly traded companies with competitive advantages that Ackman believes are undervalued.

Ackman is also comparing the vehicle to an ordinary corporation and believes it could eventually be included in broad stock market indices.“This isn’t a closed-end fund, this is Bill Ackman Incorporated,” said the investor.