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Fortune
Fortune
Luisa Beltran

Bill Ackman selling 10% of Pershing Square in deal that values the hedge fund at over $10 billion

Bill Ackman Pershing Square Pershing Fortune Herbalife Pershing Square USA
(Credit: Getty Images)

Pershing Square is raising about $1.05 billion in a funding round that values Bill Ackman's hedge fund at about $10.5 billion, a person familiar with the situation confirmed to Fortune.

The round is closing imminently. It’s unclear who Pershing's investors are, but they are acquiring a 10% stake in the hedge fund, the source said.

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