Investor Ackman's Pershing Square launches new fund aimed at US retail investors

Pershing Square Holdings

07/02/2024 17:23

NEW YORK, Feb 7 (Reuters) - Billionaire investor William
Ackman is offering a new hedge fund to U.S.-based retail
investors, allowing Main Street to tap into his double digit
performance gains previously reserved for Wall Street clients.
    Ackman's Pershing Square Capital Management said in a
regulatory filing on Wednesday that the firm is launching
Pershing Square USA, an investment vehicle that will be listed
on the New York Stock Exchange. There will be no minimum
investment, the fund will charge a flat 2% fee every year after
the first year and it will be available to retail investors who
don't have the net worth needed to invest in hedge funds.

 (Reporting by Svea Herbst-Bayliss)
 ((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))