Family offices have participated in the SPAC boom, the Financial Times reports, albeit in smaller numbers than hedge funds and other institutional investors.
Among the most prominent names active in the sector are the family offices of tech entrepreneur Michael Dell, billionaire real estate mogul Barry Sternlicht and former hedge fund executive Dan Och. Some billionaires have even set up their own Spacs, with or without family office backing, including former Facebook executive Chamath Palihapitiya and hedge fund manager Bill Ackman. Billionaire financier George Soros’s family office has also begun hunting for Spac opportunities. Read more.