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Ackman: New Fund for Ordinary Investors Explained

Renowned billionaire investor Bill Ackman has unveiled plans to launch Pershing Square USA, a novel closed-end management fund tailored for U.S. retail investors.

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management. PHOTO: Adam Jeffery/CNBC

This strategic move comes almost two years after his $4 billion special purpose acquisition company (SPAC) failed to materialize a deal for a public listing.

Pershing Square USA’s innovative structure positions it as a closed-end management

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