Ackman’s Pershing Square USA pulls IPO

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The story "Ackman’s Pershing Square USA pulls IPO" was covered 10 hours ago by The Star, a news publisher based in Malaysia.

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The Star 10h ago

Ackman’s Pershing Square USA pulls IPO - The Star

Quick Summary:

Billionaire Bill Ackman’s Pershing Square has withdrawn an initial public offering (IPO) for a US closed-end fund, after sharply downsizing a US$25bil fundraising target and facing difficult questions from investors.

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management.

Pershing Square USA was set to target long-term equity stakes in 12 to 15 positions in large capitalisation, investment grade, free-cash-flow-generating North American growth companies, according to its filings.