|With $2.2 billion in commitments from 120 investors, Pershing Square Holdings, Ltd founder, Bill Ackman is on the verge of realizing his vision of taking his firm public. As reported by Reuters, William Ackman seeks to expand his more profitable active management strategy once the firm’s existing capital has been converted to permanent capital. |
The $11 billion Pershing Square hedge fund, which has risen to prominence as a result of Bill Ackman’s high profile shareholder activist approach, needs to raise a total of $3 billion in order to meet the minimum requirements for a public offering. The November 16th deadline for investor conversion has passed, but, offshore investors may be given the opportunity to convert some time next summer.