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Ackman's Anticipated Fund Offering Faces Delay
2024-07-29 23:55:07
Business
Finance
Stocks

Ackman's Anticipated Fund Offering Faces Delay

Bill Ackman's Pershing Square USA fund, with a projected $25 billion IPO, is under SEC review, postponing its pricing. The fund offers permanent capital, with investors only able to sell if others buy their stake.

Ackman's comparison to Berkshire Hathaway hasn't swayed all investors like Capital Group. The New York Stock Exchange lists the offering as pending, awaiting a set date.

Ackman's letter to Pershing Square Capital Management's shareholders hints at the fund's future.

Related news on that topic:

Ackman's Awaited Fund Offering Facing Delays

William Ackman's Pershing Square USA, initially targeting a $25 billion IPO, is now aiming for $2 billion after facing SEC delays. The fund's permanent capital structure allows limited cash-outs for investors. Despite comparing his fund to Berkshire, Ackman faces challenges convincing some large mutual fund complexes. The New York Stock Exchange describes the offering as pending with no set date. Ackman's letter to investors is under SEC review, causing the IPO pricing delay and uncertainty regarding the trading start.

The press radar on this topic:

New York Times - Business
29. Juli 2024 um 14:29

Ackman’s Wait for His Long-Awaited Fund Offering

Economy
Finance
Pershing Square USA, a closed-end fund, is raising money for Ackman's concentrated investments. The fund had faced high expectations with an initial $25 billion IPO target, one of the biggest in history. However, the IPO pricing has been delayed as the SEC reviews Ackman's letter to investors. The fund would have permanent capital, as investors can only cash out if someone else buys their stake. The New York Stock Exchange now describes the offering as "pending on a date to be announced". Ackm..
The Street
31. Juli 2024 um 10:46

Bill Ackman's fund dealt an unexpected blow TheStreet Daily Newsletter

Economy
Finance
Ackman has argued that if funds can own Berkshire, an investment holding company, they should be able to invest in his PSUS fund, which will use derivatives for synthetic shorts. However, some large mutual fund complexes like Capital Group have passed, despite Ackman's Buffett comparison. The SEC has delayed approving the PSUS fund.
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