Elysium acts for Pershing Square Holdings, Ltd IPO

24/10/14

Elysium acts for Pershing Square Holdings, Ltd.'s US$3.07 billion IPO and US$6.2 billion market capitalisation.

Elysium Fund Management Limited, which has acted as administrator and company secretary to Pershing Square Holdings, Ltd. ("PSH") since its inception in 2012, is delighted to have assisted PSH in its recent, successful IPO.

PSH has converted from an open-ended to a closed-ended registered fund, has undertaken an upsized placing to raise gross proceeds of US$2.73 billion, and, has listed and been admitted to trading on the regulated market of Euronext Amsterdam N.V.  Following the IPO, PSH has a market capitalisation of US$6.2 billion.

PSH is run by Pershing Square Capital Management, L.P., an investment manager founded by Bill Ackman in 2003 which had US$15.3 billion in assets under management at the end of September 2014.  PSH is a concentrated, research intensive, fundamental value investor in the public markets in long and occasionally short positions in equity or debt securities of U.S. and non U.S. issuers (including securities convertible into equity or debt securities), derivative instruments and other financial instruments.