Bill Ackmanis betting that the Iran war and the worst market volatility since 2022 are exactly the right conditions to raise $10 billion.
Pershing Square Capital Management filed Tuesday to list on the NYSE under the ticker PS, alongside a new closed-end fund called Pershing Square USA (PSUS), in a combined deal seeking $5 billion to $10 billion at $50 per share.
The firm has already locked in $2.8 billion from family offices, pension funds and insurers.
Volatility Is The Pitch
In a letter to investors, Ackman explicitly called the chaos a feature, not a bug.
He argued that stock market disruption helps his...
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