"Pershing Square Capital Management on Tuesday filed to be listed on the New York Stock Exchange, Ackman's second attempt to take the company public after an ambitious play to raise $25 billion for the largest closed-end fund IPO in history failed in 2024. This time around, Ackman lowered his target, aiming to raise between $5 and $10 billion."
"Through this approach, Ackman seeks to replicate Buffett's success with Berkshire by gaining access to 'permanent capital,' potentially through investors drawn to his fiery, and sometimes controversial, posts on X, where he has two million followers. While Pershing already has a similar dual listing that trades on European markets, the U.S. listing would give him better access to deep-pocketed U.S. investors."
"I've been a kind of Warren Buffett devotee, unofficial-he's been my unofficial mentor for many years,' said Ackman in 2023. For Ackman personally, this is one of the ways he can follow in his [unofficial] mentor's shoes."
Bill Ackman filed to list Pershing Square Capital Management on the New York Stock Exchange, marking his second attempt to take the company public after a failed $25 billion IPO effort in 2024. This time, Ackman reduced his target to $5-10 billion and implemented a dual listing strategy, offering both a closed-end fund and parent company shares with ticker symbols PSUS and PS. The structure includes an incentive where every 100 shares of the closed fund purchased automatically grants 20 free shares of the parent company, with a minimum investment of $5,000. Ackman aims to access permanent capital similar to Berkshire Hathaway's model, leveraging his two million X followers and U.S. investor base. This approach allows him to follow Warren Buffett's investment philosophy, which he has cited as his unofficial mentorship.
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