Wilbur Ross open to cash-box

摘要

A special purpose acquisition company is only as good its sponsor. Wilbur L Ross is the latest veteran dealmaker to endorse the SPAC structure as an alternative financing strategy. The investment premise, preferred in the past by investment luminaries such as Thomas Hicks and Ronald Perelman, is straightforward: provide funding in the hopes profiting on an eventual acquisition. Ross is no stranger to similar investment premises. In 2009, the now 76-year-old financier raised US$170m to fund the purchase of distressed commercial real estate loans through invesco mortgage capital, a blind pool funding vehicle.