In a recent development, Seth Klarman’s Baupost Group has reportedly decided against investing in the forthcoming U.S. closed-end fund by Bill Ackman. What Happened: The Boston-based hedge fund, Baupost Group, has declined to invest in the upcoming fund, according to people familiar with the matter. Ackman had previously identified Baupost as a potential investor for Pershing Square’s management company in a letter to investors, Bloomberg reported on Tuesday. The initial public offering (IPO) for the fund was expected to raise between $2.5 billion to $4 billion, a significant drop from the initial projection of $25 billion. Despite Ackman’s assertion that Baupost would contribute $150 million to the IPO, ...