Special Purpose Acquisition Companies, or SPACs, have been around in different forms for a long time, but their impact is still being weighed in the alternative investment world.
After decades hanging out in the squirrelly corners of penny stocks and pump-and-dump schemes involving mergers with shell companies, SPACs have entered the public eye on the arms of athletes and celebrities.
The spate of SPACs has created new considerations for private equity. Many private equity firms are taking advantage of the availability of SPAC capital to arrange for exits — especially with the looming prospect . . .
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