Bucking the Trend, Top Hedge Fund Makes Plans for a Second SPAC

Life sciences firm Cormorant, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company.


Getty images

SPACs aren’t dead.

At least not to the folks at Cormorant Asset Management. Last week, the life sciences and biopharma specialist filed plans to raise $100 million for Helix Acquisition II, its second special purpose acquisition company.

“All companies coming public will go up or down according to how good their fundamentals are and develop,” Cormorant founder Bihua Chen told Institutional Investor in a text exchange.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.