Home / Business and Economy / Ackman Eyes Public Debut for Pershing Square
Ackman Eyes Public Debut for Pershing Square
22 Nov
Summary
- Pershing Square Capital Management eyes public listing early next year.
- Listing plans are preliminary and market conditions may affect offering.
- Firm managed $21 billion in assets as of November 2025.
Billionaire investor Bill Ackman is making moves to list his hedge fund company, Pershing Square Capital Management, on the stock market. Initial reports suggest a debut could happen as early as the first quarter of 2026, though these discussions are in their preliminary phases and are subject to market conditions. Pershing Square, which manages $21 billion in assets, has been on a decade-long journey to transform into a comprehensive financial institution.
Ackman's firm has gained attention for its concentrated investment strategy, holding stakes in major corporations like Uber and Alphabet. The hedge fund has seen a 17% return year-to-date as of November 18, 2025, boosted by tech stock rallies and investments in Fannie Mae and Freddie Mac. This potential IPO would mark the first major hedge fund to go public in over a decade.
Preparations for a public offering have been underway, including a sale of a 10% stake last June at a valuation exceeding $10 billion. This move mirrors recent public listings of private equity firms. Pershing Square's primary business involves managing a closed-end fund, from which it earns substantial management and performance fees.
