Bill Ackman’s Pershing Square sells 10% stake for $1.05 billion

By Thomson Reuters Jun 3, 2024 | 6:20 AM

(Reuters) – Billionaire Bill Ackman’s Pershing Square Capital Management said on Monday it has sold a 10% stake for $1.05 billion to a consortium of investors.

The stake sale is a precursor to a potential initial public offering that could happen next year or in 2026.

About $500 million of the money raised from the investors will anchor Pershing Square USA, Ackman’s new investment portfolio in the United States, which will be listed on the New York Stock Exchange, Reuters had reported last week.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)