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Thursday, April 19, 2012

Ackman/Pershing Planning a $4 Billion Fund IPO


Pershing Square Capital Management LP, a U.S. hedge fund run by William Ackman, is set to float a new $4-billion (U.S.) fund to boost the amount of permanent capital it has for activist bets, an investor source said.
Mr. Ackman, a high-profile activist investor busy trying to shake up the running of firms such as Canadian Pacific Railway(CP-T76.03-0.05-0.07%) and Burger King, plans to list the fund next January, with London the most likely venue, the source – who asked not to be named – said on Thursday.
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