Overview
- WSJ reports that Ackman is preparing to take Pershing Square and a new vehicle, Pershing Square USA, public in early 2026.
- Pershing Square USA is slated to list on the New York Stock Exchange and would grant investors free Pershing Square shares as an incentive.
- Partners could distribute up to 10% of Pershing Square equity under the plan, implying a valuation above the firm’s 2024 figure of about $10.5 billion.
- Both FT and WSJ say the plans are preliminary and subject to market conditions, and Pershing Square declined to comment on the reports.
- The effort follows a $1.05 billion sale of a 10% stake last year and would position Pershing Square within a small cohort of publicly traded alternative asset managers.