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Ackman’s Pershing reportedly plans $4-billion fund IPO


Liberty
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http://www.theglobeandmail.com/report-on-business/international-news/ackmans-pershing-reportedly-plans-4-billion-fund-ipo/article2407803/

 

Pershing Square Capital Management LP, a U.S. hedge fund run by William Ackman, is set to float a new $4-billion (U.S.) fund to boost the amount of permanent capital it has for activist bets, an investor source said.

 

Mr. Ackman, a high-profile activist investor busy trying to shake up the running of firms such as Canadian Pacific Railway (CP-T75.88-0.20-0.26%) and Burger King, plans to list the fund next January, with London the most likely venue, the source – who asked not to be named – said on Thursday.

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Ackman’s Pershing Square L.P. is reporting a 31.5 percent gain through September, when it added to its returns with a 1.4 percent rise in value, Reuters is reporting, citing an investor in the fund. The fund had gained 40.8 percent year to date on a gross basis, but after fees of nearly 25 percent hit the returns, the net was 31.5 percent.
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Hey Liberty,

 

PSH has a website with all the communications in PDF -

 

http://pershingsquareholdings.com/media/2014/09/Pershing-Square-Holdings-Ltd.-Q3-Investor-Letter.pdf

 

Ackman's Q3 letter:

 

http://www.scribd.com/doc/248310494/Ackman-Pershing-Square-Holdings-Ltd-Q3-Investor-Letter-Nov-25

 

(If anyone has just the PDF, not the horrible scribd version, I'd appreciate it)

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