Bill Ackman is in talks to take his hedge fund management company Pershing Square public, alongside a new investment entity.
The billionaire investor plans to orchestrate a double public offering as soon as early next year, the Wall Street Journal reported Friday night, citing people familiar with the matter.
The company filed a prospectus early last year for a new investment fund, Pershing Square USA. But it failed to materialize due to weak investor interest, and now he’s trying again.
This time around, the Journal reported Ackman has sweetened the deal for investors who put money into the new fund by offering free shares of Pershing Square, which would also go public. Partners of the firm would give away up to 10% of their shares, the report said.
The Financial Times reported earlier on Friday that Ackman was readying Pershing Square’s public listing, but did not mention plans for the Pershing Square USA fund to go public as well.
