Ackman attributes fund price decline to retail traders

Bill Ackman expects his new closed-end fund to rebound after a price drop he attributed to retail traders. He and his team invested hundreds of millions.

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Pershing Square Capital Management founder Bill Ackman attributed the Wednesday price decline of his newly listed closed-end fund to retail trading activity. Ackman told journalists on late Thursday afternoon that he expects the vehicle's share price to recover. The volatility follows a high-profile launch involving several billion-dollar institutional backers.

### Institutional Backing and Personal Capital Ackman and his employees committed hundreds of millions in capital to the new investment vehicle. High-profile institutional participants include Marc Lasry and the family office of META PLATFORMS INC-CLASS A CEO Mark Zuckerberg. These anchors provided the foundational liquidity for the fund's entry into the public market.

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