Bill Ackman Plans $10.5B Pershing Square IPO by 2025
TL;DR Summary
Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square Capital Management, valuing the firm at $10.5 billion, with plans for an eventual IPO. The funding round, raising $1.05 billion, involves anonymous institutional and family office investors. Ackman, who has appointed Ryan Israel as chief investment officer, continues to lead the firm, which manages $18.6 billion in assets. Pershing Square is also launching a new publicly traded closed-end fund on the NYSE.
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- Ackman Selling Stake in Pershing Square Ahead of Planned IPO Bloomberg
- Bill Ackman plans Pershing Square IPO to profit on newfound fame: report MarketWatch
- Ackman's Pershing Square raising $1 billion, eyeing IPO, source says Reuters
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