News & Events

Corporate Partner Mark Brod was quoted in a Financial Times article titled, “Spac boom eclipses 2020 fundraising record in single quarter.” The article noted that, according to data provided by Refinitiv, special purpose acquisition companies (SPACs) have raised $79.4 billion globally in 2021, surpassing the total value of fund formations in all of 2020. Boosted by record-low interest rates and an abundance of cash from investors, the article described how SPAC transactions have become increasingly popular over last year, with the trend continuing in 2021.

Mark said, “If a Spac sponsor had a successful de-Spac deal in 2020, it’s not that they’re coming back with just one Spac this year, they’re often coming back with two, three or even four new Spacs.” He also added that there is a desire for both retail and institutional investors to get exposure to “desired” sectors of the economy—such as electric vehicles or fintech—through SPACs.

To read the full article, please click here (subscription required).