Pershing Square Secures $5 Billion for New U.S. Closed-End Fund
Pershing Square has raised $5 billion for a newly launched closed-end fund that will be part of a combined U.S. initial public offering for the alternative asset manager. The fund, Pershing Square USA (PSUS), is the firm's first product marketed to both institutional and retail U.S. investors that carries no performance fees. Both PSUS and Pershing…