New Ackman Fund Plans Summer Launch

The activist investor plans to keep agitating for change.
Publish date:

There'll be no summer slowdown for high-profile activist investor William Ackman.


Pershing Square Capital

is expected to put a new $2 billion fund to work some time in late summer,

has learned.

Further details on companies the hedge fund manager might put in his crosshairs could not be learned. But the fund is expected to focus on making a handful of big-ticket purchases in high-profile public companies and agitating for change.


New York Post

, citing information obtained from investors in Ackman's New York-based new investment fund, named companies including beer maker


(BUD) - Get Report

, hotelier


(MAR) - Get Report


Kraft Foods


as possibles.

Ackman declined to comment.

Ackman's prowess at raising capital has earned him sufficient Wall Street cachet to raise his $2 billion war chest sans investment bank or adviser. It's typical for hedge funds and private equity funds to solicit the help of a financial institution to pound the phones in drumming up interest in a new investment vehicle seeking to raise large sums. For example, Eddie Lampert's ESL Investments reportedly has hired

Goldman Sachs

(GS) - Get Report

to help the investor raise $3 billion or $5 billion for future investments, with a $25 million minimum investment.

It is unclear what Ackman's minimum investment is or how many investors he has lined up.

Ackman's activism has earned him the respect of institutional investors. He is now waging war with data processing company


(CEN) - Get Report

, which is being courted in a $5.3 billion buyout by Thomas H. Lee Partners and

Fidelity National Financial

(FNF) - Get Report


Pershing's general partner, which has been agitating for the split up of Ceridian for months, has hired


(LAZ) - Get Report

to find better offers than the $36-a-share proposal from the Thomas H. Lee Partners-led group.

In the past, Ackman has pushed for change at


(WEN) - Get Report



(MCD) - Get Report

, among others.