Pershing Square USA was a new US closed-end fund from billionaire hedge fund manager, Bill Ackman, that was slated to go public on August 6, 2024. Ackman’s hedge fund, Pershing Square Capital Management (PSCM), was going to serve as the fund’s advisor.
On July 31, 2024, Pershing Square released a statement announcing that it had withdrawn its previously announced IPO.(1) According to the statement, Pershing Square intends to “reevaluate PSUS’s structure to make the IPO investment decision a straightforward one” and “will report back once we are ready to launch a revised transaction.”
Pershing Square Capital Management had over $18.6 billion in assets under management as of June 2024, company filings show.
We will update this page if and when new information about the IPO emerges.
What we know about the Pershing Square USA IPO
Here’s what we know about the Pershing Square USA IPO according to recent filings:
When is the Pershing Square USA IPO?
The Pershing Square USA IPO was set for August 6, 2024, but the IPO has since been withdrawn.
How much does Pershing Square intend to raise?
Pershing Square said on Tuesday, July 30, 2024, that its new US portfolio intended to raise roughly $2 billion in capital, significantly lower than the $25 billion initially expected.(2),(3)
What is the public offering price?
Pershing Square USA was priced at $50 per share.
What is the ticker symbol?
Pershing Square USA was intended to be listed on the New York Stock Exchange under the ticker symbol PSUS.
What is the fund’s structure?
The fund was planned to be structured as a non-diversified, closed-end management company.
What is the fund’s management fee?
The fund’s management fee was going to be waived for the first 12 months, and then an annual fee of 2% of net asset value, payable quarterly, would have applied. No performance fee was included.
What will be in the fund’s investment portfolio?
The fund was going to be a concentrated portfolio of “high-quality, large-capitalization, publicly-traded growth companies,” with 12 to 15 core equity positions.(4)
Who will manage the fund?
Bill Ackman’s Pershing Square Capital Management was going to manage the new Pershing Square USA fund.
How to buy invest in Pershing Square
While plans for a Pershing Square USA IPO have been withdrawn, Bill Ackman’s Pershing Square Holdings is currently a publicly-traded company listed on Euronext Amsterdam under ticker symbol PSH. However, it trades over-the-counter in the US under the symbol PSHZF.
Here’s how to invest in Pershing Square Holdings:
Compare share trading platforms. Choose a broker that offers access to OTC markets. Examples include E*TRADE and Charles Schwab.
Open your brokerage account. Complete an application with your details.
Confirm your payment details. Fund your account.
Research the stock. Find the stock by name or ticker symbol and research it before deciding if it’s a good investment for you.
Purchase now or later. Buy your desired number of shares with a market order or use a limit order to delay your purchase until the stock reaches a desired price.
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Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions.
Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio
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