(Reuters) -Billionaire investor Bill Ackman is aiming to publicly list hedge fund company, Pershing Square Capital Management, early next year, the Financial Times reported on Friday, citing two people briefed on the matter.
The move would mark a significant milestone for the activist investor whose elaborate commentary on finance and politics is closely watched in New York as well as Washington.
Talks for the listing are at a preliminary stage and could ultimately be delayed or not lead to a public offering depending on the market conditions, the report said.
Pershing Square declined to comment on the FT report.
After having their busiest fall season in four years, U.S. IPO filing process was disrupted by the longest ever gridlock in Washington. However, analysts expect listings to rebuild momentum on falling interest rates and soaring equity markets.
Founded by Ackman in January 2004, Pershing Square Capital Management invests in roughly a dozen stocks and is best known for its activist campaigns.
The report rekindles listing hopes after a 10% stake sale for $1.05 billion by the company last year, which Reuters reported was a precursor to a potential initial public offering.
If successful, Pershing would join a small club of publicly traded alternative asset managers.
While private equity giants like Blackstone and KKR have thrived in public markets, pure-play hedge funds have had a mixed record due to the unpredictability of their earnings.
British hedge fund Man Group is set to post its third negative year in four years, while Ackman’s Europe-listed hedge fund Pershing Square Holdings is up nearly 21% this year.
Blue OWl Capital, which Ackman has previously likened to the structure of his own business, is down nearly 40% this year amid credit market jitters.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Arun Koyyur)
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