Balance is needed on incentives to ensure Pershing Square USA fund does not struggle after floating
Plus, Arizona iced tea takes on investment bank Evercore in court and arrest of Telegram founder churns up financial troubles
US fund relaunch could include right to buy extra shares or stock in billionaire’s hedge fund
Fund eyes real estate company Howard Hughes after recent attempt to take US entity public came to abrupt halt
Plus, cash piles up, investing in classic cars, and school’s out for summer
What started as a characteristically bold scheme came crashing down after a startling series of setbacks
Ack-man of La Mancha
Plus, Ares raises a record private credit fund and Rio Tinto stays out of the mining dealmaking frenzy
Decision follows vastly lowered target and delay in pricing
“Well-positioned businesses are pricing their IPOs above price talk and are trading well in the aftermarket”
🤷♂️🤷♂️🤷♂️🤷♂️🤷♂️
Outside backers left wondering what to do with overpriced minority piece in illiquid manager
Plus, a big sports investor nears buyout deal for Hayfin Capital and Bill Ackman’s IPO target falls further
Figure is fraction of the $25bn initially targeted by billionaire hedge fund manager
No Go! No Go! Ackman
Delay marks a setback for the billionaire hedge fund manager who hoped for one of the largest listings in history
Plus, Revolut finally secures its banking licence and what the US presidential ticket means for antitrust
Pershing Square USA distances itself from its CEO’s comments
Compliance FTW
Plus, a shocking bankruptcy court ruling for private equity lawyers and Intel venture arm’s big bets in China raise US alarms
Billionaire investor plans to use social media and Buffett-like annual meeting to connect with investors
Deal would separate group’s media assets from its digital classifieds operation
Can listed management companies maintain investment performance as they scale up?
Plus, the hedge funds getting squeezed by UK takeovers and the final hours of the Paramount-Skydance bid
Sale to a group of family offices and investment firms comes as the hedge fund plots IPO
