Ackman Fund Raises More Than $3 Billion in Amsterdam I.P.O.

LONDON – William A. Ackman said Wednesday that one of his funds had raised more than $3 billion in an initial public offering ahead of its listing in Amsterdam this month.

The fund, Pershing Square Holdings, will give Mr. Ackman a permanent pool of capital to make bigger, bolder bets after years of tussling with corporate titans in the United States.

Pershing Square Holdings raised $2.73 billion through its I.P.O. and could raise another $272 million if an overallotment of shares is fully exercised. The offering price was $25 a share, valuing the fund at $6.2 billion.

The fund also raised $212.5 million from existing investors who exchanged their investments from another Ackman fund for shares. Members of the management team at Pershing Square Capital Management, Mr. Ackman’s firm, also bought an additional $129 million in shares.

Mr. Ackman visited London this year to drum up support for the fund among European investors and, at one point, had considered listing the fund there, before settling on Amsterdam.

“The completion of the offering of Pershing Square Holdings is a seminal event in the history of the firm,” Mr. Ackman said in a news release on Wednesday.

Mr. Ackman confirmed plans for the I.P.O. in September.

Pershing Square Holdings is expected to begin trading on Euronext Amsterdam on Oct. 13. It was started in 2012 and invests alongside other funds managed by Pershing Square Capital Management, which primarily focuses on North American large-cap issuers.

Anne Farlow will serve as chairwoman of Pershing Square Holdings.

It will be separate from Pershing Square Capital Management, which has about $14.1 billion in assets under management.

By publicly listing Pershing Square Holdings, Mr. Ackman, an activist investor, will have access to a permanent pool of capital that is not subject to investor redemptions, like his other Pershing funds are. If investors are unhappy with the strategy, they can simply sell their shares.

By having access to a more permanent pool of capital, Mr. Ackman will potentially be able to make bigger bets on companies, such as his recent $53 billion bid with Valeant Pharmaceuticals for the Botox manufacturer Allergan.

UBS and Deutsche Bank acted as underwriters on the offering.