Bill Ackman Aims to Raise $5bn for U.S.-Listed Closed-End Fund as Pershing Square Prepares IPO

Bill Ackman is plotting a major two-pronged move: raise $5 billion for a new U.S.-listed closed-end fund while taking his hedge-fund firm, Pershing Square Capital Management, public. People familiar with the plan told Reuters the two listings are intended to launch together, a synchronization meant to give investors simultaneous exposure to the new vehicle and

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