ACGL - PITTCO ANNOUNCES ACQUISITION OF MINORITY INTEREST IN PERSHING SQUARE

PR Newswire

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

SOURCE Pittco Management, LLC