06:55 AM EDT, 05/31/2024 (MT Newswires) -- Hedge fund manager Bill Ackman plans to take his investment firm Pershing Square public as early as 2025, people familiar with the matter were quoted as saying by The Wall Street Journal on Friday.

Ahead of a possible initial public offering, Ackman is selling a stake in his firm to private investors in a deal valuing the company at about $10.5 billion, the Journal reported, citing the unnamed people.

Pershing Square held $18.6 billion in assets under management as of April 30, the company said. Its portfolio is concentrated in the stocks of large companies, including Chipotle Mexican Grill ( CMG ) .

Pershing Square did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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