Bill Ackman targets $5 billion for Pershing Square USA closed-end fund

15 articles · Updated · Barron's · Apr 27

The fund will be priced at $50 per share and trade on the NYSE under ticker PSUS, with trading expected to begin Wednesday.
Despite Ackman's strong track record, demand has been tepid, with $2.8 billion secured from anchor investors and the remainder marketed more broadly. Investors receive bonus shares in Pershing Square Inc. as an incentive.
The fundraising target is at the low end due to investor concerns about discounts to NAV and competition from Ackman’s European-listed fund, which trades at a significant discount and offers similar investments.

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