Bill Ackman Halts Pershing Square IPO Amid Investor Hesitations

The hedge fund's initial $25 billion target was slashed to $2 billion before the offering was withdrawn.

Ackman cited investor concerns about aftermarket performance as a key reason for reevaluation.
The fund faced a challenging market environment with closed-end funds trading below asset value.
Major investors like Seth Klarman's Baupost Group decided against participating.
Pershing Square USA plans to revisit the IPO structure and potentially relaunch later.
The IPO's withdrawal may impact Ackman's other ventures, including a potential management company IPO.