Bill Ackman reportedly plans IPO for his Pershing Square hedge fund
NY Post
Billionaire hedge fund manager Bill Ackman is planning on taking Pershing Square Capital Management public — possibly as soon as next year — as his national profile climbs.
Ackman — who has become a vocal critic of antisemitism on college campuses in the wake of the Oct. 7 massacre by Hamas terrorists in Israel — is selling an ownership stake ahead of a $1 billion funding round that is expected to value the company at $10.5 billion, according to The Wall Street Journal.
By the end of last month, Pershing Square had around $16.3 billion in assets under its management.
The $10.5 billion valuation is considered high given that other hedge funds that have several times the amount of assets under management are said to be worth around the same figure, according to the Journal.
But Pershing has been telling investors that its valuation is justified given that the firm has plans to attract billions of dollars in additional assets using Ackman’s social media cachet and high public profile.
Roughly $500 million of the money raised with investors will anchor Pershing Square USA, a new investment portfolio in the US.
A socialist mayor is creating the most anti-business climate the Big Apple has ever seen — but that hasn’t stopped numerous Big Apple restaurateurs from doubling down and investing in the city they love so much.
Netflix is planning a “KPop Demon Hunters” world tour, as it looks to capitalize on its most popular movie, a source familiar with the talks said Wednesday.
Kohl’s CEO Michael Bender has revealed that customers and staffers do not need to worry about more intense store closures this year as he focuses on turning around the flailing retailer.
US wholesale prices came in hotter than expected in February.
Investors have flocked to gold IRAs to diversify their retirement savings as the asset soared well above $5,000 an ounce — but with that surge in popularity comes a wave of bad actors who have no business touching anyone’s retirement savings.
In the midst of tax season, with the April 15 deadline quickly approaching, the Internal Revenue Service is warning taxpayers about scammers out to rip you off.
Another one bites the dust. Domino’s, the nation’s largest pizza dining chain, joins the ranks of pizza giants whose franchisees have filed for bankruptcy, leaving many SoCal locations in major limbo.
Dana Walden is unifying Disney’s film, television, streaming and gaming under one roof days before a new CEO takes the reins.
Nvidia said the revenue opportunity for its artificial intelligence chips may reach at least $1 trillion through 2027, as the company outlined a strategy to compete more aggressively in the fast-growing market for running AI systems in real time.
Saks Global — owner of luxury stores including Saks Fifth Avenue and Neiman Marcus — is cutting over 1,200 jobs as it shutters more than a dozen locations nationwide following its bankruptcy filing earlier this year.
Gas prices reach highest level since October 2023 as oil holds above $100 per barrel; US stocks jump
Brent crude oil held above $100 per barrel on Monday, pushing national average gasoline prices to their highest level since October 2023 as President Trump urged allies to help protect oil tankers from Iranian attacks in the key Strait of Hormuz.
Amazon has been signaling that it wants a piece of the Saks empire — including possibly buying it outright — even as its prospects to break into the luxury market have been complicated by its controversial role in the retailer’s bankruptcy, The Post has learned.
The founder of a Vermont-based whiskey brand wants to give away a college campus that he bought during the pandemic — on the condition the new owner shares his vision for “the revival of our country and our civilization.”