Reported 3 months ago
Bill Ackman’s proposed closed-end fund, designed to democratize hedge fund access, has hit a snag with the SEC pausing its initial public offering. Intended to attract $25 billion, expectations have since cooled to a projected $2.5 to $4 billion. The fund aims to invest in undervalued large-cap companies but will use derivatives to mitigate risks associated with short selling. Despite anticipating participation from major investors, some have hesitated based on investment mandates.
Source: YAHOO