NEW YORK, July 10 (Reuters) - Bill Ackman's firm

Pershing Square Capital Management will put $500 million into

its new U.S.-listed investment holding company, the hedge fund

manager said in a presentation on Wednesday.

Pershing Square USA Ltd, which will trade on the New York

Stock Exchange under the symbol PSUS, could raise as much as $25

billion in fresh capital and will more than double the size of

Ackman's assets under management, people familiar with the

matter said this week.

The new company will largely mimic Ackman's hedge fund by

investing in a concentrated number of large corporations. But it

will be cheaper because there is no performance fee, it will

offer hedges in an uncertain investment environment and it will

be overseen by a "real board of directors", Ackman said in a

video posted on the website RetailRoadshow.com.

The $500 million anchor investment will be held for at least

10 years, he said. He said he will communicate with investors

through quarterly conference calls and detail changes in

investments or other important messages on X, where he has 1.3

million followers.

While he cannot guarantee more strong double digit returns,

Ackman said he will do his best with an experienced and

long-serving team.

Since its launch two decades ago, Ackman's hedge fund

returned 16.5% a year. Had it existed in its current form,

Pershing Square USA would have returned 19.4% during that time,

he said. Those returns would have outperformed the S&P 500 stock

market index by 9.3 percentage points per year.

Over the last 6-1/2 years it would have returned 31%, he

said.