NYT – One of Wall Street’s boldest investors, the billionaire hedge fund manager William A. Ackman, is building an unusual multibillion-dollar war chest.
While hedge funds typically raise funds privately, the founder of the $13 billion Pershing Square Capital Management is planning to tap the public stock market. Mr. Ackman is aiming to raise billions of dollars for a closed-end fund that could list on the London Stock Exchange as soon as this summer, according to three people briefed on the matter but not authorized to discuss it.
