00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Bill Ackman's Pershing Square launched a roadshow on Monday for the U.S. initial public offerings of its management company
00:08and a new fund, Pershing Square USA, according to Reuters.
00:11The launch comes as markets remain choppy after U.S.-Iran talks failed to reach a deal to end the war
00:16in its seventh week.
00:17Pershing Square USA aims to raise $5 billion to $10 billion through the IPO and a private placement, pricing shares
00:24at $50.
00:24The fund secured $2.8 billion in commitments from investors, including family offices, pension funds, and insurers.
00:31The fund will invest in 12 to 15 North American listed companies and will not charge performance fees.
00:36Citigroup, UBS Investment Bank, Boa Feet Securities, Jeffries, and Wells Fargo Securities are serving as global coordinators and bookrunners for
00:43the combined IPO.
00:44For all things money, visit Benzinga.com.
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