Bill Ackman may struggle to raise $1 billion in the next week for a stock fund whose target he won’t identify.
Calling the offer “a big ask” and comparing it to writing Ackman a “blank check,” several industry investors have speculated that many potential clients will say no, as the Public Employees Retirement Association of New Mexico already has.
A spokeswoman for Ackman’s Pershing Square declined to comment.