Ackman Gets $2 Billion for Public Fund as Clients Convert
This article is for subscribers only.
Bill Ackman’s Pershing Square Capital Management LP received $2.2 billion in commitments for a new fund that will eventually be publicly traded, he said in a letter to investors obtained by Bloomberg News.
The money is coming primarily from existing investors who elected to convert some or all of their investment in Pershing Square funds, Ackman wrote in the letter, dated Nov. 26. Pershing Square Holdings Ltd. will be a “publicly traded permanent capital vehicle” that will ultimately be listed on the London Stock Exchange, Ackman said.