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business1d ago
First on CNBC: Transcript: Pershing Square CEO Bill Ackman Speaks with “Squawk on the Street” Today
- Ackman unveils Pershing Square USA as a globally accessible, SEC-registered investment vehicle with permanent capital.
- Ackman says PSUS is not a typical closed-end fund, with governance, investor relations, and hedging features.
- PSUS aims to combine a strong 22-year track record with a high-performance, tax-efficient corporate structure.
- Ackman notes the offering attracted institutional backing, including a $200 billion family office and a $500 million pension fund.
- Ackman explains PSUS will be different from offshore funds and accessible to a global investor base.
- Ackman highlights the potential for PSUS to generate meaningful long-term value via compounding and a large addressable market.
- Ackman states that PSUS enables a broader investor base to participate alongside large institutions.
- Ackman discusses the potential universality of PSUS compared with traditional hedge funds.
- Ackman highlights a high level of oversubscription for the PSUS offering.
- Ackman reframes PSUS as a performance-backed, investor-friendly alternative with flexible capital structures.
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