SPACs may be tanking, but that hasn’t deterred hedge funds from piling into them, Institutional Investor reports.
Hedge funds boosted their holdings of SPACs by 73 percent during the first quarter.
These investors owned $142.9 billion worth of SPACs at the end of March, compared with only $82.4 billion as of the end of December, according to an analysis of 13F filings by SPAC Research.
The top three SPAC investors are Glazer Capital, Millennium Management, and Magnetar Capital, according to the ranking put together by SPAC Research.
So far this year, 324 SPACs have raised $103.6 billion, which is almost equal to the amount raised in the past three years combined. Read more.
