Pershing Square Holdings, Ltd. starts trading on London Stock Exchange: landmark for UK fund market
- Pershing Square Holdings Ltd. successfully lists £3.6 billion fund in London, securing access to new and diverse international investors
- Reinforces London’s status as a leading global financial centre
- Over 450 funds worth a combined £140 billion listed in London
- £2.6 billion raised in Q1 2017 by London listed- funds, up more than 100 per cent year-on-year
London Stock Exchange welcomes Pershing Square Holdings Ltd., a close-ended investment company, to the Premium Segment of the Main Market today. The listing demonstrates London’s attractiveness to international fund managers, particularly from the US.
To date, over £2.6 billion has been raised in initial and follow-on capital raisings by London listed funds, more than a 100 per cent increase year-on-year. High profile issuances in London over the past 12 months have included BioPharma Credit, the specialist debt financing fund for the life sciences industry, raising $762 million, Vietnam-focused investment management company, Dragon Capital, listing its flagship $900m fund and Civitas Social Housing raising £350 million, becoming the first real estate investment trust focussed on social housing on London Stock Exchange.
Bill Ackman, Founder and CEO, Pershing Square Holdings Ltd.:
“We are delighted to join the Main Market of the iconic London Stock Exchange. The listing will help improve market access and liquidity for PSH. We are excited about the future of Pershing Square and are pleased to introduce PSH to a growing base of investors."
Nikhil Rathi, CEO, London Stock Exchange plc:
“We warmly congratulate Bill Ackman and his team on the successful listing of Pershing Square Holdings in London today. It is a significant milestone for the company and the UK fund industry, reinforcing London’s status as a leading global financial centre.
“We’re confident Pershing Square Holdings will have access to the deepest pool of international investor capital through London. 2017’s surge in overall money raised by London listed funds to £2.6 billion is testament to the diversified nature of the funds choosing to list and raise follow-on capital on London Stock Exchange.”
London Stock Exchange fund credentials:
- 2017’s fund IPOs have performed well since listing, all are trading at Premiums to their Net Asset Values
- 31 funds are now listed on the Specialist Fund Market
- The largest London listed fund is Scottish Mortgage Trust with a market cap of just under £5 billion. It joined the FTSE 100 in March 2017
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