Bill Ackman’s Pershing Square Sells 10% Stake for $1.05 Billion

Hedge-fund manager Bill Ackman sold a 10% stake in Pershing Square ahead of a planned initial public offering in a deal valuing the company at more than $10 billion.

Investors include Arch Capital Group Ltd., BTG Pactual, Consulta Ltd., ICONIQ Investment Management, Menora Mivtachim Holdings and an international group of family offices, according to a statement Monday. The purchase price was $1.05 billion.

Bill Ackman

Photographer: Jeenah Moon/Bloomberg

“We are delighted to invite a group of world-class, long-term partners as investors in our business, which has been entirely owned by Pershing Square employees since our inception more than 20 years ago,” ...