Bill Ackman plans IPO for Pershing Square, reports say

Bill Ackman, the activist investor and short-seller, is reportedly planning to float his Pershing Square Capital Management firm on the public market next year.

Ackman is, as a precursor, selling a stake in Pershing Square through a deal with investors that values the money manager at $10.5 billion with the deal due to close in the next week, according to a report by the Wall Street Journal.

Pershing Square had $16.3 billion of assets under management at the end of April.

The hedge fund was started by Ackman in 2004 and at the end of April had some $16.3 billion of assets under management.

In 2023, Pershing Square achieved net gains worth $3.5 billion, bringing its overall gains to $18.8 billion since its inception.

Stock market experts say the IPO would see Ackman cash on a recent uptick in his personal public profile, having featured in recent years in documentaries on streaming platforms as well as being a guest on prominent podcasts.

If successful, it would be the first major public listing of a hedge fund in many years, after the 2008 financial crisis.

Besides his media appearances, Ackman has also captured global prominence, for his political positions and social media activity.