The SPAC Bubble Is About to Burst
It’s not yet two months old, but 2021 already looks poised to outdo 2020 in one area: SPACs, or special purpose acquisition companies, raised around $26 billion in January this year in the United States, nearly a third of the record $83 billion collected by 248 SPACs over the whole of 2020. These so-called “blank […]
Goldman chief executive says Spac boom is unsustainable
David Solomon issues warning after financing tool is used to raise nearly $79bn from investors last year. David Solomon, Goldman Sachs chief executive, says the boom in listings of blank-cheque companies on Wall Street is unsustainable, casting doubt on a financing tool used to raise nearly $79bn from investors last year. Speaking to analysts as […]
Hillman in Talks to Go Public Via Fertitta, Jefferies SPAC
Transaction values combined entity at more than $2 billion. Private equity firm CCMP has owned majority stake since 2014. Construction hardware supplier Hillman Group Inc. is in talks to go public through a merger with Landcadia Holdings III Inc., a blank-check firm led by billionaire Tilman Fertitta and Jefferies Financial Group Inc.’s Rich Handler, according […]
PE deal activity to set a new high as Spacs arrive in Europe
Analysts at data provider PitchBook predict robust dealmaking in Europe for private equity, the rise of Spacs in the continent and a pick up in distressed investing. Private equity deal activity in Europe will set a new high this year and top €480bn, according to analysts at PitchBook, as record dry powder, tepid inflation and […]
SPACs face increasing hurdles in race to get deals done
An exclusive club of SPACs backed by private equity, venture capital and hedge fund titans may have a New Year’s resolution: Deploy tens of billions of dollars, upend the conventional IPO and deliver huge returns with modest risk. And they have less than two years to make it all happen. That monumental task is getting […]
