Gary Cohn’s Blank-Check Firm Said to Raise $720 Million in IPO
Gary Cohn’s Blank-Check Firm Said to Raise $720 Million in IPO
(Bloomberg) -- Cohn Robbins Holdings Corp., a blank-check company backed by Gary Cohn, the former Goldman Sachs Group Inc. president and economic adviser to President Donald Trump, has upsized its U.S. initial public offering.
The special purpose acquisition company raised $720 million after earlier targeting $600 million, according to people with knowledge of the matter. Cohn and activist investor Cliff Robbins lead the blank-check company as co-chairmen and co-chief executive officers.
Cohn Robbins will target an acquisition in the consumer, software and fintech sectors, while it can also pursue other areas, according to its prospectus.
A representative for Cohn Robbins declined to comment.
Cohn left his position as president and chief operating officer of Goldman Sachs to serve as Trump’s chief economic adviser from 2017 to 2018.
Blank-check companies have attracted high-profile financiers such as Bill Ackman as well as celebrity personalities such as baseball executive Billy Beane.
Credit Suisse Group AG is arranging the offering.
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