Debut of Bill Ackman's new fund delayed but expected to proceed
-The New York Stock Exchange said on Friday that the debut of billionaire investor Bill Ackman's new U.S. fund, Pershing Square USA, has been delayed, without providing a reason.
"Pershing Square USA. Ltd. is proceeding with its initial public offering of its common shares of beneficial interest with the date of pricing to be announced," Ackman's firm said in a release, echoing the exchange's statement.The delay marks the latest complication for the offering coming just days after the hedge fund manager asked his investors to chip in cash for the fundraising and told them he would raise much less money than initially planned.
Ackman, who has a big presence on social media platform X where he weighs in on topics ranging from political races, higher education and the dangers of sugary foods, hopes retail investors will find the offering as attractive as institutional shareholders. Since January, Pershing Square Holdings, his decade-old closed-end fund that provides his firm permanent capital, has returned 6.4%.
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