Billionaire hedge fund manager Bill Ackman has announced the delay of the highly-anticipated initial public offering (IPO) for Pershing Square USA, according to a notice on the New York Stock Exchange's website. The IPO, which was originally scheduled to price on Monday, has been postponed indefinitely. This comes after Ackman recently reduced the fundraising target for the US fund from $25 billion to a range of $2.5 billion to $4 billion.

According to Bloomberg News, Ackman's decision to delay the IPO comes as he failed to raise more than the $1 billion he secured from friends. Insiders revealed that potential investors expressed a desire to observe the performance of the IPO before committing their own capital. Despite requests for comment, Bill Ackman did not respond to The Post's inquiries.

In response to the news, Pershing Square issued a press release affirming their commitment to proceeding with the IPO, although a new pricing date is yet to be announced. The press release also mentioned that the IPO could take place within the next two weeks, with shares expected to be priced at $50 each.

On Thursday, Ackman filed an update with the Securities and Exchange Commission (SEC), which included a letter penned by Ackman himself, urging shareholders of his Pershing Square Capital Management firm to support the new investment venture. In the letter, Ackman emphasized the importance of shareholder involvement in the IPO, stating that it would help "improve the strength" of the deal.

A source familiar with the matter stated that Ackman's desire to avoid a subscale listing influenced his decision to postpone the IPO. While most similar companies often trade at a discount, Ackman believed that his public persona would defy this trend. However, the source revealed that this did not prove to be the case.

Bill Ackman's fund, renowned for returning an impressive 16.5% per year, has gathered significant attention in recent times, thanks in part to his outspoken presence on social media, especially on the subject of antisemitism on college campuses.

As the Pershing Square USA IPO remains in limbo, investors and industry experts eagerly await further updates from Bill Ackman and his team.