今年1月，他信心满满地宣布了Pershing Square USA封闭式基金的IPO计划，目标融资额高达250亿美元，Bill Ackman, the well-known founder of a hedge fund, originally planned to use the power of social media to successfully list the new fund on the NYSE, but it ultimately ended in failure.
Well-known hedge fund founder Bill Ackman tried to sell funds using his social media influence, but the plan seems to have failed.
Ackman is famous for his brilliant performance in the investment community and his precise operations during the pandemic. He accurately shorted the US stock market during the pandemic, and successfully shorted US bonds again in 2023 by taking advantage of the opportunity to make a profit. However, he now faces a different challenge, as his social media influence has not translated into expected investment returns.
In January of this year, he confidently announced the IPO plan for the Pershing Square USA closed-end fund, with a target financing amount of up to 25 billion US dollars, hoping to attract thousands of investors through high exposure on social media and a Buffett-style annual meeting.
However, as time passed, this ambitious plan encountered numerous setbacks. The target funding amount for the IPO was first reduced from 25 billion US dollars to 4 billion, and then further reduced to 2 billion. Finally, on Wednesday of this week, Ackman announced the withdrawal of the IPO application, surprising Wall Street.
The IPO turmoil of Pershing Square USA overshadowed Ackman's lackluster investment returns this year. The Pershing Square Holdings closed-end fund he traded in Europe has only increased by 6.4% as of July 23 this year, while the large-cap index has risen by 16.5% over the same period. Worse still, one of Pershing Square Holdings' major holdings, Universal Music Group NV's stock price began to tumble more than 20% last weekend due to lower-than-expected profits.
In order to promote the IPO, Ackman has held talks with more than 150 investors over the past few weeks, emphasizing his fund's annualized return of 16.5% since 2004. However, many investment advisers are skeptical that the fund will perform as well after the IPO.
Although Ackman's activity on social media has earned him a lot of supporters in the conservative camp, it has not translated into actual investment returns. Analysis suggests that, on the one hand, his social media influence is still far from that of figures like Trump and Musk. On the other hand, former SEC official Birdthistle said:
"When you're trying to sell financial returns to people, things get more complicated. I think Trump and Musk are more natural and straightforward in their performance, what you see is what they really think, while Ackman seems more deliberate and carefully designed.
After announcing the withdrawal of the IPO, Ackman's performance on social media was unusually low-key. His first tweet was just a news release announcing the withdrawal of the IPO, without his usual banter and controversy.
