Bill Ackman has pressed pause on the initial public offering of a new fund aimed at everyday investors after a lack of demand. Ackman originally aimed to raise around $25 billion in the offering, hoping to capitalize on his social-media celebrity but his fund goals shrunk dramatically. WSJ’s Peter Rudegeair unpacks what happened. Further Reading: -Can Bill Ackman Turn Social-Media Stardom Into a Blockbuster IPO? -What Bill Ackman Got Wrong With His Bungled IPO Further Listening: -The Life of One of Wall Street’s Greatest Investors Learn more about your ad choices. Visit megaphone.fm/adchoices
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