Bill Ackman Is Launching a New Way to Invest in Pre-IPO Companies
The next fund from Pershing Square could be complementary to its current options.
Overview
Bill Ackman just launched a new closed-end investment fund a few months ago, and he's already planning his next one. The CEO of Pershing Square (NYSE: PS) launched Pershing Square USA (NYSE: PSUS) in April, giving U.S. investors an easy way to invest with him. But he sees another opportunity in the U.S. market -- pre-IPO companies.
To that end, Pershing Square announced the forthcoming launch of Pershing Square Ventures, Ltd.: a small closed-end fund that will invest in late-stage private companies. Ackman argues that he and his team are well-suited to invest in private companies. In fact, Pershing Square has already taken some positions on its own balance sheet (outside of its funds). What's more, Ackman argues, launching a venture fund and researching more start-ups will help produce better results for investors in Pershing Square's existing funds.
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Originally published at www.fool.com.