MEMPHIS,
Tenn., June 13, 2024 /PRNewswire/ -- Pittco
Management, LLC ("Pittco") is pleased to announce its equity
investment in Pershing Square through a primary equity sale
transaction. Pershing Square Capital Management, L.P. ("PSCM") sold
a 10% common equity interest in Pershing Square Holdco, L.P.
("Pershing Square")—a newly formed limited partnership owning 100%
of PSCM—to a consortium of strategic investors for $1.045 billion. In addition to Pittco, this
consortium includes Arch Capital Group Ltd. (NASDAQ: ACGL), BTG
Pactual (BPAC11), Consulta Limited, ICONIQ Investment Management,
Menora Mivtachim Holdings, and other investors.
"Bill is one of the most talented value investors in the world.
Along with an incredibly deep and talented team, he has positioned
Pershing Square to continue to drive value creation across the
strategies it manages. We are excited to be a part of this next
phase of growth for the firm," said Henry
Guy, Pittco's President and Chief Investment Officer.
"We are delighted to welcome Pittco, along with other
world-class, long-term partners participating in the transaction,
as investors in our business, which has been entirely owned by
Pershing Square employees since our inception more than 20 years
ago," said Bill Ackman, Pershing
Square's Founder and CEO.
About Pittco Management, LLC
Pittco is the
single-family office for Joseph R. "Pitt" Hyde III, founder of
AutoZone, and his wife, Barbara. Pittco was established over 30
years ago, and provides investment, accounting, tax, and financial
services from its headquarters in Memphis, Tennessee.
A link to Pershing Square's press release regarding the
transaction can be found here: Pershing Square Press Release
For more information, please visit:
http://www.pittcomanagement.com.
Media Contact:
Pittco Management, LLC
Media@pittcomanagement.com
901-685-5455
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SOURCE Pittco Management, LLC