Pershing Square USA, managed by billionaire Bill Ackman, is preparing for its initial public offering (IPO) on the New York Stock Exchange with shares priced at $50 each. This new investment portfolio aims to replicate Ackman’s successful European-listed hedge fund, Pershing Square Holdings (PSH.AS), but with lower fees and faster access to capital. The fund will focus on investing in 12 to 15 undervalued large North American companies.
To participate in the offering, potential investors must purchase at least 100 common shares of Pershing Square USA. The fund plans to charge a flat 2% management fee, which will be waived for the first year. This structure is part of Ackman’s strategy to attract retail investors alongside institutional ones.
Earlier in June, Pershing Square Capital Management, overseen by Ackman and managing $19 billion in assets, raised $1.05 billion through selling a 10% stake. Approximately $500 million of these proceeds will serve as an anchor investment for Pershing Square USA, with the remainder allocated to future funds planned by Ackman.
Pershing Square USA is set to trade under the ticker symbol “PSUS” on the NYSE, positioning itself to capitalize on Ackman’s investment strategies in the North American market.
Source: Reuters