Pershing Square Raises $5 Billion in Dual NYSE Debut, Missing Top Target

Billionaire investor Bill Ackman lists two Pershing Square entities on the New York Stock Exchange.

These listings debut this Wednesday, April 29.

The combined initial public offering and private placement raised $5 billion.

Pershing Square USA (NYSE: PSUS) debuts as a closed-end fund.

The PSUS offering priced at $50.00 per share.

Pershing Square Inc. (NYSE: PS) lists as the management company for Ackman’s funds.

Total proceeds reached the lower end of the initial $10 billion target.

Institutional investors provided over 85% of the orders.

These buyers included family offices, pension funds, and insurance companies.