Private Funds Nuts and Bolts: SPACs – What Fund Managers Need to Know

Special Purpose Acquisition Companies (SPACs) have been around for many years, but 2020 saw a resurgence in their popularity given the market dislocations due to COVID-19 as well as mounting concerns over the costs and efficiencies of traditional initial public offerings (IPOs).

Both traditional and alternative fund managers are participating in SPACs at launch, trading their shares and warrants and investing in the final “de-SPAC” transactions via Private Investments In Public Equities (PIPE) structures, which have also been around for many years as well.

In this webinar, Dechert partners Thomas Friedmann and Timothy Spangler discussed the specific issues and concerns fund managers should bear in mind when considering SPAC-related investments for their public and private funds (and other institutional client accounts).