Read more: Spacs
The $100 billion raised by special purpose acquisition companies (Spacs) since the start of 2020 might be stoking fears of a speculative bubble in some quarters of the market.
However, for Jean Pierre Mustier, the former UniCredit chief executive who is among a team that is launching a European Spac, the structure has a credible future in a region lacking a deep and unified capital market.
Mustier is joining up with fellow ex-banker Diego De Giorgi, a former Goldman Sachs and Bank of America investment banker and most recently a non-executive director at UniCredit, in launching an Amsterdam-listed Spac.
Pegasus Europe – the name reflecting its ambition to help target companies fly – will look to acquire financial services companies in Europe.
The vehicle...
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