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Pershing Square’s Ackman eyes $1 billion-plus ‘blank-check’ company, Reuters reports

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

Adam Jeffery | CNBC

Billionaire investor William Ackman’s hedge fund Pershing Square Capital Management has filed confidentially with U.S. regulators for an initial public offering (IPO) of a blank-check investment vehicle that could raise more than $1 billion and be the biggest of its kind, according to people familiar with the matter.

Ackman, whose New York-based hedge fund has more than $10 billion in assets under management, is working with investment banks Jefferies, UBS Group and Citigroup on the IPO, referred to on Wall Street as a special purpose acquisition company (SPAC), the sources said.

The sources requested…



Source cnbc.com

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