Future Returns: SPACs, When the Target Company is TBD

Bill Ackman, founder and CEO of Pershing Square Capital Management, a hedge fund manager, raised

Bill Ackman, founder and CEO of Pershing Square Capital Management, a hedge fund manager, raised $4 billion through a special purpose acquisition company (SPAC), Pershing Square Tontine Holdings (PSTH.U), in July. It was the largest SPAC to go public this year.


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