Pershing Square, the hedge-fund firm managed by Bill Ackman, has sold a 10% stake for $1.05 billion as part of preparations for an initial public offering (IPO). The strategic move values the firm at over $10 billion. Prominent investors in this deal include Arch Capital Group Ltd., BTG Pactual, Consulta Ltd., ICONIQ Investment Management, Menora Mivtachim Holdings, and a consortium of family offices from around the world. Ackman expressed his satisfaction with the new investments, stating, “We are delighted to invite a group of world-class, long-term partners as investors in our business, which has been entirely owned by Pershing Square employees since our inception more than 20 years ago.”
For further details, you can read the full article on Bloomberg Law.