New York, 29 April 2026 – Billionaire investor Bill Ackman’s Pershing Square has raised US$5 billion for its new closed-end fund, marking a major step in the firm’s long-running plan to build a more permanent capital base and expand access to its investment strategy beyond traditional hedge fund investors.

The new vehicle, Pershing Square USA Ltd., forms part of a combined public listing involving both the closed-end fund and Pershing Square’s asset management company. The amount raised includes a previously disclosed US$2.8 billion private placement, with the structure resulting in two listed entities: Pershing Square USA Ltd. and Pershing Square Inc.

Unlock the Full Article

This article is exclusive to The Ledger Asia Subsribers / PAID members.

Subscribe to Read More

Already have an account? Log in here

Author

Tim Clark
Tim Clark is a Senior Geopolitical Analyst for The Ledger Asia, specializing in the intersection of international relations and market stability. With over a decade of experience, Tim provides deep-dive insights into Indo-Pacific security, global supply chain resilience, and the strategic competition between major powers.
Previously a consultant for leading international think tanks, he focuses on how shifting diplomatic landscapes and maritime disputes impact corporate governance and trade policy. At The Ledger Asia, Tim’s analysis equips readers with the clarity needed to navigate the complex regulatory and economic environments of Southeast Asia and beyond.