Ackman Starts Marketing Pershing IPO to Raise up to $10 Billion

Bill Ackman has kicked off formal marketing for the US initial public offering of his closed-end fund and his hedge fund, even as the Iran war hits dealmaking optimism.

The IPO for Pershing Square USA Ltd. is expected to price on April 28, according to terms seen by Bloomberg. The billionaire’s IPO could raise as much as $10 billion, according to a statement.