Pershing Square to stay in London as Ackman launches new fund in US (2024)

Hedge Fund 08 Feb, 2024

Hedge fund manager Bill Ackman rules out moving Pershing Square Holdings to the US and tells investors that the new Pershing Square USA will help cut their big performance fees.

By Gavin Lumsden

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Pershing Square’s Bill Ackman is launching a US-listed closed-end fund after scrapping plans to move his London-listed investment company to the States.

Ackman told investors at the annual general meeting of Pershing Square Holdings (PSH) that the new fund, Pershing Square USA (PSUS), would not charge a performance fee but, like PSH, but would offer a concentrated portfolio of high conviction, quality growth US stocks.

A registration statement for the fund’s initial public offer has been filed with the US Securities and Exchange Commission.

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