The spectacle of the SPAC has preoccupied bankers on Wall Street over the past year, The Economist writes. This is in part because the vehicles are often touted by their backers as an alternative to an IPO. Big banks make meaty fees from their IPO businesses. For some, the fact that SPACs have muscled in is an unwelcome development. As voracious buyers of private firms, though, SPACs are attracting as much attention among the private-equity barons on New York’s Park Avenue as on Wall Street. Read more.
The Uneasy Partnership Between Private Equity and SPACs: Report
