Ackman planning to take Pershing Square investment firm public - WSJ

Investing.com -- Bill Ackman is planning to take his Pershing Square investment firm public as soon as next year, the Wall Street Journal reported on Friday.

Citing people familiar with the matter, the WSJ said that Ackman is offloading a stake in the company to investors prior to a public listing. The move is part of a funding round that is expected to value Pershing Square at around $10.5 billion, the WSJ added.

The stake sale is expected to close in the coming days, the paper said.

At the end of April Pershing Square managed around $16.3 billion net assets, the WSJ noted, adding that the business has been telling investors the valuation is warranted because it intends bring in billions of dollars more from its assets.

Ackman is not looking to take Pershing Square public until late 2025 or early 2026, according to the WSJ.

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