PSAM Is Launching a SPAC Fund

The event-driven specialist has devoted 40 percent of its flagship fund’s assets to blank-check companies.

Peter Schoenfeld (Peter Foley/Bloomberg)

Peter Schoenfeld

(Peter Foley/Bloomberg)

PSAM is the latest hedge fund firm to catch SPAC fever.

P. Schoenfeld Asset Management told clients in its fourth quarter letter that it is raising money for a fund that will invest in special-purpose acquisition companies, or SPACs.

It said it will seek to invest “opportunistically across the SPAC lifecycle with a strong focus on sponsor/founder share class investments and PIPE commitments.”

PSAM

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