Hedge Funds Are Long These Three SPAC Deals

Soroban has a stake in Bill Ackman’s Pershing Square Tontine, while DraftKings and Nikola have attracted hedge funds including Hudson Bay.

Michelle Celarier August 17, 2020

Eric Mandelblatt, co-founder of Soroban Capital Partners.

(Patrick T. Fallon/Bloomberg)

Prominent hedge funds have emerged as top investors in this year’s biggest boom: SPACs, or special purpose acquisition companies.Most recently, Soroban Capital Partners has taken a 5.7 percent stake in this year’s biggest SPAC — Bill Ackman’s $4 billion Pershing Square Tontine Holdings,

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