Blank-cheque companies have struggled to secure so-called Pipe funding to complete deals
Hedge fund Elliott Management is investing in a special purpose acquisition company deal, marking a rare bright spot for blank-cheque investment vehicles that have fallen from favour and left dealmakers scratching around for investors.
Elliott and New York-based Siris Capital are investing $20mn in the so-called Pipe of a Spac deal for travel technology group Mondee, according to people briefed on the deal.
The Spac deal values Mondee, which operates a collection of digital travel platforms, at $1bn.
Read more: FT
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.