Ackman considers I.P.O. for new fund
New York City -- A Thursday report in the New York Times said that activist investor William A. Ackman is pondering whether or not to raise capital for a new fund through an initial public offering.
Citing people familiar with the matter, the Times said that the head of Pershing Square Capital Management is planning to raise billions of dollars for a closed-end fund that would be listed on an exchange, but that the firm itself would not go public.
Ackman has been quoted as saying that a more stable capital base would allow him to invest more freely, without the worry that money could be withdrawn during times of distress and allowing him to produce greater returns.
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