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Pershing Square and New Fund Launch Joint IPO Roadshow, Seeking Up to USD10 Billion
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Pershing Square, founded by US hedge fund manager Bill Ackman, on Monday launched a roadshow for the US initial public offering (IPO) of its new fund, Pershing Square USA, aiming to raise between USD5 billion and USD10 billion. The fund is offering shares at USD50 each. It has secured USD2.8 billion in commitments from investors including family offices, pension funds and insurance companies in a private placement. For every 100 shares purchased in the new fund, investors will receive 30 shares of Pershing Square. Pershing Square USA is expected to mirror Ackmans existing hedge fund strategy and will invest in 12 to 15 undervalued publicly listed companies in North America. The fund will provide a more efficient channel for capital access and will not charge performance fees, enhancing its appeal to a broader base of investors. (to/s) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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