Pershing Square’s Bill Ackman is mulling to launch an initial public offering (IPO) of a new fund to raise nearly $3 billion in permanent capital for investments, Financial Times reports. The IPO is expected to take place later in 2011.

Ackman is considering launching a listed fund designed to mirror the investment strategy of the flagship fund. The activist investor, whose hedge fund has $10 billion under management, targets large, long-term stakes in public companies.

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