Bill Ackman Postpones Pershing Square USA IPO Amid Investor Hesitation

The hedge fund manager reduces target size significantly, urging investors to commit while addressing concerns over fund structure.

Ackman slashes the IPO target from $25 billion to between $2.5 billion and $4 billion.
NYSE announces the delay of the IPO, with a new date yet to be determined.
Investor skepticism centers on the closed-end fund's structure and negative trading history.
Ackman emphasizes the importance of long-term value over the initial size of the IPO.
Major institutional investors like Putnam and Texas Teachers Retirement System have already committed.