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In the midst of an environment driven by low yield and excess of cash available, SPAC’s Initial Public Offering (IPO) market continues to grow, raising approximately US$5 billion to US$6 billion each month.
The growth of the Special Purpose Acquisition Company (SPAC) market was one of the key storylines in the capital markets. SPACs have been around for a long time in the United States but have gained strong popularity in the last 24 months in Europe. In the first quarter of 2021 alone, global SPAC activity has exceeded activity for the full year of 2020. This success is also linked to Private Equity houses: many PE firms have histories with SPACs that predate the current boom, while others have just recently launched or planning to launch inaugural vehicles.
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