Investor Bill Ackman has advanced his long-standing project of creating a publicly traded investment vehicle inspired by Warren Buffett’s model. To this end, he made official this Tuesday (10) the request for listing of his manager, Pershing Square Capital Management, on the New York Stock Exchange (NYSE).
Under the ticker symbol “PS,” the listing will allow ordinary investors to purchase slices of Ackman’s platform. Currently, the manager manages a portfolio focused on large corporations, with relevant stakes in companies such as Brookfield, Uber and Amazon, according to the most recent records from 2025.
The operation, according to information from CNBCwill have a dual listing model on the New York Stock Exchange (NYSE). In practice, both the shares of the Pershing Square manager and the shares of its new fund, PSUS, will be available to investors.
Live off the profits of big companies
Although the shares will be launched at the same time, each one will have its own trading, allowing the market to buy or sell the assets independently. The company highlighted that, until this joint launch, there was no public market for the manager’s common shares.
In this transaction, Bill Ackman’s objective is to raise between US$5 billion and US$10 billion for the PSUS fund, with each share priced at US$50. As an incentive to investors, the company informed that it will deliver 20 shares of the manager for every 100 shares of the fund acquired in the initial public offering, without the buyer having to pay any extra amount for this bonus.
The manager reported that it had already secured US$2.8 billion in commitments even before the official opening of the offer. The amount was raised from a diverse group that includes family offices, pension funds, insurance companies and large individual investors.
Continues after advertising
The listing is part of a strategy to convert Bill Ackman’s digital engagement into real capital, taking advantage of his base of more than 2 million followers on the social network X. PSUS marks the first time that the firm has opened a fund aimed simultaneously at small retail investors and large institutional investors in the US.
After failing to reach the goal of raising US$25 billion in 2024, Pershing Square recalculated the route. The company’s new focus became increasing its stake in Howard Hughes Holdings to use the company as a strategic base for purchasing majority stakes in other companies.
Inspiration
Bill Ackman cites Warren Buffett as his great inspiration and reference for his management’s two-decade trajectory. According to the founder of Pershing Square himself, he is a loyal follower of Buffett and claims that the 95-year-old investor has acted as his mentor indirectly for a long time.
Ackman explains that he mirrors his idol’s career transition, which began with private partnerships before taking control of Berkshire Hathaway. For the entrepreneur, this model is the basis of his vision to create a permanent capital platform focused on long-term growth.
“Permanent capital allows us to take a long-term view and be opportunistic during periods of market volatility, without being exposed to the need to raise capital by selling assets to meet redemptions,” says the document.
