From CNBC: 2024-05-31 09:20:08

Bill Ackman plans to take Pershing Square public, selling a 10% stake in the firm for $1.05 billion, valuing the company at $10.5 billion. The hedge-fund manager is eyeing an eventual IPO in the U.S. with potential successor Ryan Israel named as CIO. Ackman gained fame for activist campaigns and a strong social media following. He has also launched a closed-end fund investing in large-cap companies. Ackman quit activist short selling in 2022 after a high-profile battle against Herbalife.

Read more: Ackman selling stake in Pershing Square at $10.5 billion valuation, aiming for IPO