Bill Ackman's Pershing Square Seeks $5-$10B in Dual NYSE Listing

Bill Ackman's hedge fund, Pershing Square, has filed for a $5-$10 billion dual initial public offering (IPO) on the New York Stock Exchange (NYSE). The fund has already secured $2.8 billion in commitments for a new fund called Pershing Square USA. This is the same Bill Ackman that previously tried and failed to raise $25 billion in 2024.

Bill Ackman, the billionaire investor, is making another attempt to take his hedge fund, Pershing Square, public . The fund has filed for a dual IPO on the NYSE, aiming to raise between $5 billion and $10 billion. This is a significant increase from the $14 billion initially reported by Pershing Square.

As part of the IPO, investors will receive 20 shares of Pershing Square Capital Management for every 100 shares purchased in the new fund . The new fund, Pershing Square USA, has already secured $2.8 billion in commitments . This follows a failed attempt by Ackman to list his fund for $25 billion in 2024 .

Ackman's move is seen as a sign of confidence in the US stock market, despite recent market turmoil. The decision to list on the NYSE, rather than other major exchanges such as the NYSE or NASDAQ, suggests that Ackman is seeking to tap into the NYSE's large institutional investor base .