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, PitchBook reports. And they have less than two years to make it all happen.
That monumental task is getting harder, owing to a glut of competition among SPACs looking for target companies, PitchBook says in this analysis piece. It is forcing some dealmakers behind blank-check companies to trim their profits in a race to differentiate themselves from the pack. Read more.
