On June 3, 2024, Pershing Square Capital Management, L.P. announced that strategic investors acquired 10% common equity interest in Pershing Square Holdco, L.P.
Pershing Square Capital Management, L.P. (“PSCM”) announced that strategic investors acquired 10% common equity interest in Pershing Square Holdco, L.P. (“Pershing Square”) for a purchase price of $1.05 billion. The strategic investors included Arch Capital Group Ltd. (“Arch Capital”), BTG Pactual, Consulta Limited, ICONIQ Investment Management (“ICONIQ”), and Menora Mivtachim Holdings (“Menora”). Further terms of the transaction were not disclosed.
PSCM, based in New York City, is a register investment advisor for investment funds and wholly owned by Pershing Square. As of March 2024, PSCM had approximately $18.6 billion in assets under management. BofA Securities served as placement agent to PSCM on the transaction.
Arch Capital (NASDAQ: ACGL), based in Bermuda, is a publicly listed exempt company that provides insurance, reinsurance, and mortgage insurance services through its wholly owned subsidiaries. As of March 2024, Arch Capital had approximately $22.1 billion in capital.
BTG Pactual (BVMF: BPAC11), based in Sao Paulo, Brazil, is an investment bank that provides investment banking, corporate lending, sales and trade, asset and wealth management, and banking services. As of March 2024, BTG Pactual’s Wealth and Asset Management divisions had over $320 billion in assets.
Consulta Limited, based in London, is a private investment firm that makes long term investments in businesses run by owner-oriented managers.
ICONIQ, based in San Francisco, is a division of ICONIQ Capital that delivers investment portfolios for high net-worth clients. ICONIQ Capital is a financial advisory and investment firm with over $80 billion in assets under management.
Menora, based in Tel Aviv, Israel, is an insurance and finance group that provides services in insurance, credit, underwriting, savings, and pension. As of May 2024, Menora had approximately $93 billion in assets under management.
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