Billionaire investor Bill Ackman lists £3.5bn fund in London

Billionaire investor Bill Ackman listed his $4.6bn (£3.5bn) Pershing Square Holdings investment fund in London today.

Pershing, which is already listed in Amsterdam, chose to list on the FTSE 100 to attract more British investors. It is expected to enter the FTSE 250 next month.

Ackman said: “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."

Earlier this year, Ackman exited Valeant Pharmaceuticals calling the investment a "huge mistake" that cost his hedge fund $4bn.

Ackman told Bloomberg today that he will “probably stay away from pharmaceutical companies” following the bumper loss.

“What I learned is that it can be very expensive," Ackman said.

“In the case of Valeant, we worked closely with the management team on the acquisition of Allergan and in 2014 it was a very successful transaction. We made the mistake of making passive investment in the company," he said.

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