"Ackman is about to get a lot more money to play around with - about $5 billion more - when he takes the rare step of a dual initial public offering for Pershing."
"The new investment vehicle is Pershing Square USA, Ltd., trading as PSUS. It is a closed-end fund, which means Ackman is raising a fixed amount of money and will not issue new shares after the IPO."
"PSUS will be managed more actively (read: aggressively) than a regular exchange-traded fund that tracks the performance of a specific stock index like the S&P 500."
"Ackman has brought in some dizzying amounts at his hedge fund, such as his $2.6 billion return on a $27 million bet on March 3, 2020, that the stock market would crash."
Bill Ackman, known for his controversial posts on X, is launching a dual initial public offering for his hedge fund, Pershing Square Capital Management. This move will raise approximately $5 billion through a closed-end fund named Pershing Square USA, Ltd. Ackman is also taking his hedge fund public as Pershing Square, Inc., which includes three funds. The new fund will be managed more aggressively than typical exchange-traded funds, providing a safeguard for investors.
Read at Intelligencer
Unable to calculate read time
Collection
[
|
...
]