Hedge fund manager Bill Ackman is planning to take Pershing Square public, The Wall Street Journal reported on Friday citing people familiar with the matter.
According to the report, before going public, Ackman is selling a share of the company, Pershing Square, to investors in a funding round. It is anticipated that this deal will value the firm at approximately $10.5 billion and is expected to be finalized in the next few days. Pershing Square, which managed $16.3 billion in net assets in April, expects an influx of capital, with the IPO planned for late 2025 or early 2026.
Pershing Square has been informing investors that its valuation is justified because it intends to acquire billions more in long-term assets. Currently, it mainly holds a focused portfolio of undervalued stocks of large companies, including Chipotle Mexican Grill (CMG) and Universal Music Group.
