(Bloomberg) -- Bill Ackman’s Pershing Square aims to raise $25 billion for a new closed-end fund expected to draw interest from US retail investors, which...
-- Bill Ackman ’s Pershing Square aims to raise $25 billion for a new closed-end fund expected to draw interest from US retail investors, which would more than double the fee-paying assets the firm manages, according to people with direct knowledge of the plans.AMLO Protege Sheinbaum Becomes First Female President in Mexico
The new US vehicle may lure institutional investors, in addition to retail backers. BlackRock Inc., for instance, is listed as a holder of the European closed-end fund.Investors in the Pershing management company are shielded from incentive fees, or carry, and are betting on the predictability of the firm’s fee-related earnings. Ares Management Corp., an alternative-asset manager which is already public, has a market capitalization of about $42.4 billion, representing a multiple of 35.
NEW YORK — The typical compensation for CEOs of S&P 500 companies keeps climber higher — and outpacing the wages of average workers today.CHICAGO — A new network is launching to carry games from three Chicago pro teams, the Blackhawks, Bulls and White Sox. -- The latest GameStop Corp. frenzy has coaxed a big critic of the meme-stock craze – and a notable loser back in 2021 — off the sidelines with a new short position.
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