Ackman Plans Pershing Square IPO with $10.5B Valuation

The hedge fund manager aims to take his firm public by late 2025, shifting focus to asset management and new U.S. ventures.

Ackman is selling a stake in Pershing Square to investors ahead of the IPO, valuing the firm at $10.5 billion.
The firm will be positioned as an asset manager, not a hedge fund, to justify its high valuation.
Pershing Square plans to launch a $10 billion U.S.-based closed-end fund without performance fees.
The firm received SEC approval for a special-purpose acquisition rights company to increase assets under management.
Ackman’s move follows a decade of focusing on European markets, now pivoting to capitalize on American opportunities.