Bill Ackman's Pershing Square IPO Launches with $5 Billion Raise
Bill Ackman's Pershing Square Capital Management has launched its initial public offering, raising $5 billion, which is at the lower end of its initial target range. The IPO creates two separate entities on the New York Stock Exchange: Pershing Square USA Ltd. (PSUS) and Pershing Square Inc. (PS). The move marks Ackman's attempt to build a public investment platform similar to Berkshire Hathaway.
Topics: Investment Platforms IPO Pershing Square Capital Management Public Markets