Finance

Pershing Square ‘taking no compensation’ for new SPAC investment vehicle

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Bill Ackman, founder and CEO of Pershing Square Capital Management.

Adam Jeffery | CNBC

This is breaking news. Please check back for updates.

Bill Ackman’s Pershing Square Tontine Holdings is poised to become the largest special purpose acquisition company, or SPAC, on record when it begins trading on Wednesday.

The fund, announced in June, targeted $4 billion in outside capital, which was higher than the initial target of $3 billion. Ackman’s hedge fund, Pershing Square Capital, will invest an additional $1 billion to $3 billion, meaning the vehicle’s total value could reach $7 billion.

Ackman said Wednesday on CNBC’s “Squawk Box” that his new investment vehicle is the “most investor…



Source cnbc.com

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