Story perspectives

Bill Ackman: Fannie Mae IPO Unfeasible Amid Challenges

11/19/2025

Summary

Story summary

Bill Ackman, founder of Pershing Square Capital Management, says selling Fannie Mae and Freddie Mac shares in an IPO is currently unfeasible.
The U.S. government has controlled these agencies for 17 years and is weighing IPO structures.
Ackman proposed converting their over-the-counter listings to the New York Stock Exchange, potentially near $400 billion.
Merging the two agencies into one company would require congressional approval and is unlikely.

1 of 1

Story summary

Bill Ackman, founder of Pershing Square Capital Management, says selling Fannie Mae and Freddie Mac shares in an IPO is currently unfeasible.
The U.S. government has controlled these agencies for 17 years and is weighing IPO structures.
Ackman proposed converting their over-the-counter listings to the New York Stock Exchange, potentially near $400 billion.
Merging the two agencies into one company would require congressional approval and is unlikely.