Since Blackstone launched in 1985 with $400,000 in seed money, the asset manager has expanded from traditional buyouts to the credit markets, real estate and more.
The SPAC market has cooled considerably in recent weeks, with companies that went public by merging with a blank-check entity trading well off their highs, and a growing number of regulatory hurdles emerging for an investment strategy that often dominated financial news headlines in 2020.
Private equity firms that sponsor blank-check companies raise the potential for conflicts of interest with their own funds, according to PitchBook.
As the blank-check boom rages on, growth-stage companies are increasingly bombarded by SPAC sponsors vying to take them public.
Some of the world’s largest asset managers from Blackstone to BlackRock have signaled an appetite to invest in socially responsible companies—and special-purpose acquisition companies are all too happy to serve them.
Dyal Capital Partners is one of a few names driving a recent surge among private equity firms acquiring minority stakes in other asset managers. Dyal holds so-called GP stakes in more than 40 different investors.
The SPAC boom just became a little bigger. Gores Holdings IV, a special-purpose acquisition company that raised $425 million at the start of the year, has agreed to combine with United Wholesale Mortgage in a reverse merger that will value the mortgage origination provider at roughly $16.1 billion, marking the largest SPAC merger on record, the company said.
Hims, a telehealth company that offers personal health and wellness products, is in negotiations to go public by merging with…