Pershing Square founder and CEO Bill Ackman discusses the recent IPO of Pershing Square’s new closed-end fund and alternative asset manager. Ackman emphasizes that this IPO marks the beginning of a long-term journey, with $5 billion in capital ready to be deployed within weeks. He speaks with Dani Burger on “Bloomberg Deals.”
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May I IPO you?
There are two reasons Ackman is doing this closed-end fund. First, it removes the risk of redemptions which is the single greatest “annoyance” for hedge funds. Second, Ackman is charging a 2% management fee on PSUS. If you think that doesn’t matter much, think again. 2% of $5 billion is $100M earned annually. Go to 4:10 — a trillion in 20 years… wtf?? $5 billion to $1 trillion in 20 years requires an annual compound rate of ~30%
just buy meta
Bill Ackman is trying to avoid another billion dollar mistake like the one he made back in 2012 when he shorted Herbalife.
Your money was promised to him.
Real life Kendall Roy
He seems fine to me, need to celebrate Europe which UK is part of….