Blackstone extends its reach through Chu-Foley SPAC

摘要

CF corporation has broken fresh ground for the resurgent special purpose acquisition company market with the US$1.84bn all-cash purchase of fixed annuity provider FIDELITY & GUARANTY LIFE. The acquisition comes about a year after CF, the SPAC run by former Blackstone partner Chinh Chu and insurance executive William Foley, raised US$690m from its IPO, the largest in a string of SPAC new issues in the past year.