David Hunt, who oversees $1.4 trillion as CEO of PGIM Inc., said he’s dubious of the craze for SPACs and doesn’t think they’ll be embraced by sophisticated investors, Bloomberg reports.
“We have these very unclear sources of capital that are given very broad mandates to move wherever they want,” he said in an interview on Bloomberg Television. “Personally, I begin to see that as a little bit of a sign of a bubble rather than as an ingenious new invention.” Read more.
