Bill Ackman's Pershing Square Files for New York IPO
Bill Ackman's Pershing Square filed for a New York IPO on Tuesday. The firm will list on the NYSE as PS and also launch a new US-listed closed-end fund.
Hedge fund manager Bill Ackman has officially initiated the process to take his investment firm public in the United States. According to regulatory filings submitted on Tuesday, Pershing Square is seeking an initial public offering (IPO) in New York, a move that would transition the high-profile management company into a publicly traded entity. The strategy involves a dual public offering. In addition to the management firm itself, Ackman is looking to list Pershing Square USA, a closed-end fund that he had previously attempted to take public during 2024. The firm has designated the New York Stock Exchange as its listing venue, where it plans to trade under the symbol PS. A group of prominent investment banks is managing the debut. The underwriters for the Pershing Square IPO include Citigroup Inc., UBS Group AG, Bank of America Corporation, and Wells Fargo & Company, as well as Jefferies. This filing represents a major step in Ackman's long-standing ambition to expand the firm's capital structure and public profile.
