Bill Ackman, manager of Pershing Square, raised $3 billion prior to Pershing Square’s debut on Amsterdam Euronext, scheduled for October 13. The fund will be priced at $25 a share, which gives Pershing Square a $6.2 billion valuation, as reported by International Business News. UBS and Deutsche Bank are underwriting the deal. The fund had $14.1 billion assets under management as of June 2014.
Bill Ackman has been tirelessly fighting in support of a hostile takeover bid for botox-maker Allerganby Valeant. Pershing Square owns 9.7% of Allergan, which comprises 39% of its portfolio. Ackman also has a large short position in Herbalife, which he is trying to drive out of business because he thinks its business model is a ponzi scheme.