Bill Ackman’s Pershing Square is preparing a $5 billion IPO for a new closed-end fund that aims to mirror its flagship hedge fund — but with lower fees, faster access to capital, and broader investor eligibility, including pension funds, endowments, and retail investors.
Key Highlights
- The IPO is expected to launch alongside Pershing Square Capital Management’s own IPO in early 2026.
- Investors in the new vehicle will receive free Pershing Square shares as an added incentive.
- Plans may shift depending on market conditions.
- Ackman had previously considered raising up to $25B in earlier versions of the fund.
- Pershing Square now manages $21B AUM, with its London-listed Pershing Square Holdings returning 17.2% YTD and posting double-digit gains in 2023–2024.
- Ackman continues to wield massive influence online, with 1.8M followers on X, where he frequently comments on politics, education, health — and even dating.