Key insights
- Bill Ackman's Pershing Square has initiated the roadshow for the IPO of its management company and a new fund, Pershing Square USA, aiming to raise $5-10 billion. While a large IPO can signal investor confidence, the direct impact on broader US equity markets is limited unless the capital raised is deployed in a way that significantly shifts market dynamics.
April 13 (Reuters) - Bill Ackman’s Pershing Square kicked off a roadshow for the U.S. initial public offerings of the billionaire investor’s management company and a new fund on Monday.
The Pershing Square USA fund expects to raise between $5 billion and $10 billion from the IPO and a private placement. The fund is selling shares at $50 apiece.
Ackman previously tried taking the new fund public in 2024, but scrapped the launch days before the scheduled debut.
Citigroup, UBS Investment Bank, BofA Securities, Jefferies and Wells Fargo Securities are the global coordinators and bookrunners for the combined IPO.
Pershing Square USA will be listed on the New York Stock Exchange under the symbol "PSUS", and Pershing Square under "PS".