Private Equity

Mark Yusko On Spacs

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The head of RIA Morgan Creek Capital recently launched an ETF to diversify investments in the blank-check companies. : Special Purpose Acquisition Companies, or SPACs, made up most of the growth in the U.S. initial public offering (IPO) market last year. In 2020, SPACs raised $79.9 billion in gross proceeds, topping the 2019 record of $13.6 billion, according to Nasdaq. There is even a SPAC focused on acquiring firms in the wealth management space, guided in part by Larry Roth, former CEO of broker/dealer Cetera and a long-tenured executive in the financial advisory industry.

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