Bill Ackman is facing challenges with his recent IPO endeavors, as highlighted by various financial analysts and news sources. Despite his strong track record as an investor, Ackman is reportedly struggling in his role as an equity syndicate banker, a sentiment echoed by a former global head of equity capital markets at Bank of America Merrill Lynch. This situation has been described as a learning experience for Ackman as he navigates the complexities of marketing his long-awaited fund IPO. Additionally, a recent letter from Ackman provides a rare insider perspective on the IPO process, shedding light on the hurdles he has encountered. The latest edition of DealBook also discusses these issues, alongside other financial news, including Peter Thiel's evolving relationship with Donald Trump and the ongoing Murdoch succession debate.