Bill Ackman's Pershing Square IPO Expected to Raise $5 Billion
Bill Ackman's Pershing Square is expected to raise $5 billion in its IPO, which is the lower end of its previously targeted $10 billion range. Institutional investors have committed to about 85% of the offering, which includes a $2.8 billion private placement. The IPO is structured to bundle shares of the closed-end fund with shares of the management company.
Topics: Bill Ackman Fundraising IPO Pershing Square SEC filings