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Billionaire hedge fund manager William Ackman told investors on Wednesday that his firm remains committed to pushing ahead on Valeant’s bid for rival Allergan and that the firm is still aiming to list one of its funds on an exchange this year. Ackman wrote in a 20-page long shareholder letter seen by Reuters, “We will continue to focus on getting a transaction completed and maximizing the value of our investment.” Ackman also said that the initial public offering of Pershing Square Holdings Ltd is “targeted for later this year.” John Pinette, who worked most recently for Bill and Melinda Gates in the Gates Family Office will start his position next week.

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