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This is part of the company's initial public offering (IPO) plan in the United States, fulfilling Ackman's dream of listing a flagship fund in New York.
The new fund is Pershing Square's first to target U.S. institutional and retail investors and does not charge performance fees.
Previously, Ackman had planned to launch "Pershing Square US" (PSUS) in 2024 but withdrew the IPO application due to lower-than-expected demand.
Pershing Square US and Pershing Square will begin trading on the New York Stock Exchange on Wednesday under the stock symbols "PSUS" and "PS."