Bill Ackman's Pershing Square plans $5 billion US fund IPO
Business
Bill Ackman's investment firm, Pershing Square, is planning a big move: a $5 billion IPO for its US fund.
The buzz is real: more than 85% of the interest so far has come from major institutions.
If you invest, you'll actually get shares of Pershing Square itself, showing there's strong demand behind this launch.
Pershing Square fund seeks $10 billion
The fund hopes to raise up to $10 billion total through both the IPO and a private placement, with shares set at $50 each.
So far, it's already locked in $2.8 billion from family offices and big investors like pension funds and insurers.
Plus, for every five shares you buy in this new fund, you get one extra share of Pershing Square, kind of a bonus for early backers.
Final pricing gets announced Tuesday.