Ackman Eyes Listed Hedge Fund With At Least $4 Billion

May 29 2014 | 1:10pm ET

Pershing Square Capital Management is seeking up to $3 billion for a publicly-listed hedge fund vehicle.

The New York-based firm, which currently manages $13 billion, plans to list its offshore vehicle, Pershing Square Holdings, on the London Stock Exchange as a closed-end fund. PSH currently has $2.6 billion in assets; the firm plans to list it when the figure reaches at least $4 billion, The New York Times reports.

Pershing Square founder William Ackman first announced plans for a listed fund two years ago. Nothing came of that effort, and the current plans—including timing and venue—could change, according to the Times.

Still, a listing could come as soon as this summer.

Ackman was in London late last month to pitch the plan to European investors. He hopes to raise between $1 billion and $3 billion for the fund, which would be similar to permanent capital vehicles run by Brevan Howard Asset Management and Third Point.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...


FINalternatives Trending

From the current issue of