Pershing Square Inc.

Pershing Square Inc. is an alternative asset management company that manages pools of permanent capital invested in long-term, concentrated investment strategies, led by Founder and CEO Bill Ackman and CIO Ryan Israel. Through its wholly owned subsidiary Pershing Square Capital Management (PSCM), it manages three groups of vehicles:
- Core Funds: Pershing Square Holdings (PSH, listed on the London Stock Exchange), Pershing Square USA (PSUS, listed on the NYSE since its April 30, 2026 IPO), and the Private Funds, Pershing Square, L.P. and Pershing Square International.
- Howard Hughes Holdings (HHH), managed under a services agreement.

Revenue comes from management fees: 1.5% annually of NAV for PSH and the Private Funds, 2.0% for PSUS, and a base plus variable fee from HHH. The company also earns performance fees above high-water marks, of which it retains the Preferred Performance Fees; Subordinated Performance Fees go to CompCo to compensate investment professionals. About 98% of fee-paying AUM is permanent capital.

The company became a public corporation through the Combined IPO alongside PSUS in April 2026, after converting from Pershing Square Holdco, L.P. It is now subject to U.S. corporate income taxes. It holds balance sheet investments in HHH shares, PSUS common and preferred shares, and PS Ventures investments, and pays a regular dividend to common shareholders. Updated Nov 2, 2026