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.
