Law firm Ropes & Gray believes the launch could potentially kickstart the closed-end fund IPO market.
Sign up to AFI’s free industry briefings here. Join decision-makers getting an industry edge with membership.
The hedge fund quest for permanent capital has been a bumpy one, with various attempts to launch listed vehicles undermined by the fact they often ended up trading at chunky discounts to NAV.
A decade after heading down this road with Pershing Square Holdings, one of the more successful closed-end fund offerings, Bill Ackman is upping the ante with Pershing Square USA, Ltd (PSUS), a New York-listed equivalent with an ambitious $10bn fundraising target.
According to law firm Ropes & Gray, the launch could potentially kickstart the closed-end fund IPO market.
AFI subscriber access is required to view this content
AFI provides proprietary intel and business development tools for professionals navigating the global hedge fund market.
AFI Intelligence includes access to Intel, Analysis, Podcasts and Summits.
AFI Intelligence + Data includes everything in AFI Intelligence, plus Research and Data, including AFI’s proprietary rankings, trackers and market research.
