Financial Times latest article quoting DataTrek’s Nick Colas:
“Funds have been raised at a record rate in the US this year for shell companies that offer a ‘blank cheque’ to sponsors to pursue takeovers, providing further evidence of the rehabilitation of a controversial tool that waned in the wake of the financial crisis….
…Goldman Sachs and hedge fund investor Daniel Loeb launched the two largest such deals in the 2018 crop for these publicly traded buyout vehicles which raise funds for an acquisition within two years…
…”Loeb and Goldman do have good brand names, so the pitch is easy enough: do you want to put your money alongside these investors?” said Nicholas Colas, co-founder of DataTrek”….
Read the whole article here in the Financial Times!