Is the SPAC craze over?


Hedge funds have invested $9 billion in SPACs, but lack of financing could crush the market

By Julie Dalla-Costa

Earlier this summer, U.K.-based hedge fund group GLG Partners announced that it would use a U.S.-based special purpose acquisition company to go public in the biggest announced SPAC deal to date, a new take on a reverse merger. But could this be the last hurrah for SPACs, which have become the darling of hedge fund managers?

The success of a SPAC IPO depends on the likelihood of the sponsors, which are mere shell