(Reuters) – Pershing Square USA said on Wednesday it was withdrawing its initial public offering, a day after hedge fund manager Bill Ackman’s new portfolio in the United States disclosed it would raise roughly $2 billion in capital.
Ackman said on Wednesday he would revisit the IPO once he is ready to launch a revised transaction.
The fundraising target for the new fund was a fraction of the $25 billion the billionaire investor had initially expected to bring in.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Sriraj Kalluvila)
