Bill Ackman is planning to take Pershing Square public: report

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Bill Ackman.
Bill Ackman.

  • Bill Ackman is aiming to take Pershing Square public as soon as next year, the WSJ reports.
  • Ackman aims to secure funding by first selling a stake in his firm, the Journal reported.
  • It would be an unusual move for a hedge fund.

Billionaire Bill Ackman is planning to take his investment firm Pershing Square public, according to a new report in The Wall Street Journal.

But first, Ackman intends to drum up some funding by selling a stake in his firm to investors in a deal that’s expected to close very soon, people familiar with the matter told the WSJ.

This funding round is expected to give Pershing Square a roughly $10.5 billion valuation, the outlet reported. The firm told prospective investors to value it like an asset management firm, rather than a hedge fund, citing Brookfield Asset Management as a comp.

For context, Brookfield — valued at about $15 billion — oversees more than $925 billion, compared to the $16.3 billion Pershing Square had under management at the end of April.

Pershing Square spokesman Francis McGill declined to comment on the report to Business Insider.

The IPO filing would be an unusual move for a hedge fund, as their performance can be volatile and it lifts a shroud of secrecy they’re accustomed to. But the Journal cited a prospectus filed by Pershing noting that Ackman’s growing personal brand among retail investors could give Pershing Square the publicity it needs for a successful public launch.

Ackman could take Pershing Square public as soon as the end of 2025, or early the following year, people familiar with the matter told the WSJ.

Read the original article on Business Insider


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