Billionaire investor Bill Ackman is planning an IPO of his hedge fund company, Pershing Square Capital Management, as early as next year, culminating a decade-long pursuit by him to turn it into a broader financial institution, The Financial Times reported on Saturday.
Ackman has reportedly disclosed the move to several existing Pershing Square investors and has already engaged advisors regarding the IPO plans, two people familiar with the matter said. A potential listing is expected in Q1 2026, one of them added.
The people noted the preliminary nature of the discussions and said that the IPO plans could be delayed or shelved entirely depending on the market environment.
In June, Ackman readied a potential IPO of Pershing Square with a 10% stake sale in the company for just over $10B to a group of investment firms, family offices, and billionaire investors in a valuation rivaling those assigned to private equity groups such as TPG (TPG).
One of the well-known hedge fund managers, Ackman, manages $21B assets in Pershing Square with major positions held in leading companies such as Uber (UBER), Alphabet (GOOG) (GOOGL), Amazon (AMZN), and Hilton (HLT).
Characterized by concentrated positions in only a handful of stocks, Pershing Square has returned 17% this year through Nov. 18, thanks in part to investor interest in tech stocks and gains in U.S. government-sponsored financing entities Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC).
Bill Ackman’s closed-end fund Pershing Square USA (PSUS) withdrew IPO plans last year after fundraising prospects dropped to $2B from about $25B.
More on Pershing Square
- Pershing Square reduces stake in Alphabet, Uber, among Q3 moves
- Bill Ackman eyes Pershing Square IPO as soon as next year – report
- Bill Ackman’s Pershing Square USA says it’s withdrawing IPO
- Bill Ackman seeking to resurrect Pershing Square USA IPO – report
- Pershing Square sweetens bid for Howard Hughes shares