(Reuters) – Billionaire investor William Ackman’s hedge fund Pershing Square Capital Management has filed confidentially with U.S. regulators for an initial public offering (IPO) of a blank-check investment vehicle that could raise more than $1 billion and be the biggest of its kind, according to people familiar with the matter.
FILE PHOTO: FILE PHOTO: Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake/File Photo
Ackman, whose New York-based hedge fund has more than $10 billion in assets under management, is working with investment banks Jefferies, UBS Group AG and Citigroup Inc on the IPO, referred to on Wall Street as a special purpose acquisition company (SPAC), the sources said.
The sources requested anonymity because the IPO is still confidential. Pershing Square, UBS and Citi d