Billionaire William Ackman Plans for Fund IPO in Amsterdam

Billionaire William Ackman is planning an initial public offering of one of his funds on Euronext Amsterdam. The activist fund manager is known for expressing his views and this listing will give him another platform. Sources told Reuters that Ackman has already secured over $1.5 billion from pension funds across Europe and offshore U.S. hedge funds and he may seek for another $2 billion prior to listing. Ackman was interested in having two of the largest European banks, UBS and Deutsche Bank, to run his book when he wanted to list in London earlier this year. It's unclear whether these two partners have been changed. All capital raised will be put in a fund separated from his now famous Pershing Square Capital Management. Ackman did better than most of his competitors this year. That's somewhat of a redemption because his performance was less than double digits last year and trailed most people.