Billionaire hedge fund manager Bill Ackman is marketing the initial public offering of Pershing Square USA Ltd., a US closed-end fund that could raise as much as $25 billion. In a briefing Thursday with prospective investors, he wasn’t talking about a rival closed-end fund provider — instead it was Warren Buffett’s Berkshire Hathaway Inc.
In a Zoom town hall in which Ackman and Pershing Square Chief Investment Officer Ryan Israel fielded questions from some of the roughly 400 participants, Ackman made reference to building a model that, like Buffett’s company, he hopes can create generational wealth. The money manager is considering holding quarterly conference calls and an in-person annual meeting that would have shades of Berkshire’s yearly confab in Nebraska.