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
