Ackman IPO Roadshow

Bill Ackman's Pershing Square launched a roadshow for the U.S. IPOs of its management company and new fund, Pershing Square USA, targeting $5B–$10B at $50 per share. The fund secured $2.8B in commitments from family offices, pension funds, and insurers. It will invest in 12–15 North American-listed companies with no performance fees.