Betsy Cohen Says Investors Must Look Beyond U.S. for SPAC Deals
Betsy Cohen Says Investors Must Look Beyond U.S. for SPAC Deals
(Bloomberg) -- Betsy Cohen, a pioneer of the special purpose acquisition company, said the hottest acronym in finance ought to go global.
While she doesn’t think SPAC opportunities in the U.S. have dried up, investors should be looking abroad, Cohen said Tuesday during a webinar hosted by the Economic Club of New York.
“We can do SPACs that are more European-centric, Asian-centric,” said Cohen, chairman of SPAC investment firm FinTech Masala. “We have to be packing our bags -- either electronically or actually.”
Cohen, 79, was an early adopter of the SPAC, starting her first in 2015. In the time it took Wall Street to warm up to SPACs -- blank-check companies designed to connect private companies to public capital markets -- she’s launched nine, with a 10th coming soon, according to FinTech Masala’s website.
Her firm has pulled off two SPAC deals within the past week, bringing public investment bank Perella Weinberg Partners and online payments provider Payoneer.
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