Bill Ackman is Pershing's main shareholder (Il Sole 24 Ore Radiocor) - New York, 03 Jun - Pershing Square Capital Management said it had sold a 10% common equity interest in the hedge fund to a consortium of strategic investors for 1.05 billion dollars.

The investors included Arch Capital Group Ltd, BTG Pactual, Consulta Limited, ICONIQ Investment Management, Menora Mivtachim Holdings, an international group of family offices, and other investors, Pershing said in a statement.

'We are delighted to invite a group of world-class, long-term partners as investors in our business, which has been entirely owned by Pershing Square employees since our inception more than 20 years ago,' said Pershing Square Founder and CEO Bill Ackman.

Ackman is Pershing's main shareholder.

'This new investment will help accelerate our growth in assets under management in existing and new strategies. As always, Pershing Square will remain intensely focused on generating high, long-term returns for our investors.' The sale is a precursor to a potential initial public offering that could happen next year or in 2026, Reuters wrote, adding investors were valuing the firm at 10.5 billion dollars.

AAA-Sje

(RADIOCOR) 03-06-24 14:46:51 (0406) 5 NNNN