The company expects the fund to have a market
capitalization of at least $5 billion after the share offering,
which will be priced at $25 a share.
New York hedge fund manager Ackman, famed for aggressive moves
including a $1 billion bet against US nutrition firm Herbalife,
is currently engaged in a battle to broker a sale of Botox maker
Allergan to Valeant Pharmaceuticals.
Pershing Square Holdings said it had already received
commitments worth $1.5 billion from 30 cornerstone investors. It
currently has more than 300 investors.
The fund is run by Pershing Square Capital Management, a North
America-focused equities investment manager founded by Ackman in
2003 which had $14.1 billion in assets under management at the
end of June.
Reuters reported earlier this month that UBS and Deutsche
Bank were to run the listing. Credit Suisse is acting as joint
bookrunner, the firm said.
Pershing Square Holdings gained 31.2 percent during the first
eight months of 2014, according to an investor with the fund,
making it one of the industry's best performing funds of the
year. It expects to be admitted for trading on Oct. 13.
(Reporting by Thomas Escritt and Freya Berry; editing by Jason
Neely and Susan Thomas)
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