Bill Ackman’s Pershing Square Sells 10% Stake for $1.05 Billion
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Hedge-fund manager Bill Ackman sold a 10% stake in Pershing Square ahead of a planned initial public offering in a deal valuing the company at more than $10 billion.
Investors include Arch Capital Group Ltd., BTG Pactual, Consulta Ltd., ICONIQ Investment Management, Menora Mivtachim Holdings and an international group of family offices, according to a statement Monday. The purchase price was $1.05 billion.