Pershing Square, Microsoft
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The listing gives public investors their first direct stake in Ackman's investment platform, which runs a concentrated portfolio of 10 large-cap names.
The closed-end fund sank more than 18% from its $50 offering price. Shares of the hedge-fund firm itself struggled, too.
(Reuters) -Billionaire investor Bill Ackman plans to take his hedge-fund firm Pershing Square and a new investment fund public early next year, the Wall Street Journal reported on Friday, citing people familiar with the matter. The move would mark a ...
Pershing Square sought to toss what it called a “facially defective” shareholder lawsuit accusing founder Bill Ackman of bullying Howard Hughes Holdings Inc. directors into a deal that increased the investment firm’s stake at an unfairly low price.