SPACs face new test: A wave of Asia-focused deals
FILE PHOTO REUTERSPremium
Jing Yang
, The Wall Street Journal
Tycoons in the region put money into U.S. blank-check companies as major local stock exchanges haven’t allowed such listings
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Thousands of miles from Wall Street, the boom in blank-check companies is taking hold in a region where major stock exchanges don’t let firms raise money for unspecified uses.
In mainland China, Hong Kong and Singapore, investment firms controlled by tycoons and money managers have collectively raised billions of dollars on the New York Stock Exchange and Nasdaq Stock Market over the past year via special-purpose acquisition vehicles, showing how far-reaching the SPAC boom has been.
Best of the Best
HarbourVest is an independent, global private markets investment specialist with over 35 years of experience and more than $74 billion in assets under management, as of September 30, 2020. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 675 employees, including more than 150 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $43 billion to newly-formed funds, completed over $26 billion in secondary purchases, and invested over $18 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, and actionable insights.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
OCA Acquisition Corp. Announces Closing of $149.5 Million Initial Public Offering Wednesday, .
OCA Acquisition Corp.January 20, 2021 GMT
New York, NY, Jan. 20, 2021 (GLOBE NEWSWIRE) OCA Acquisition Corp. (the “Company” or “OCA”), a special purpose acquisition company, today announced the closing of its initial public offering of 14,950,000 units at a price of $10.00 per unit, including 1,950,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option. The units began trading on The Nasdaq Capital Market (“Nasdaq”) on Friday, January 15, 2021 under the ticker symbol “OCAXU”.
Patrizia received the Best Client Service award.
In the category of mid-cap real estate GPs, Los Angeles-based
PCCP LLC was picked Best of the Best. PCCP focuses on senior and mezzanine debts in small- to medium-sized commercial buildings, as well as value-add investments.
INFRASTRUCTURE
Macquarie received the same amount of votes as Brookfield and was jointly awarded Best of the Best infrastructure manager.
Australia’s
Schroders and
Antin Infrastructure Partners was awarded Best Client Service.
Among mid-cap GPs,
Equitix was awarded Best of the Best, followed by
InfraRed Capital Partners who won Best Performance. Through the two UK investment firms, NPS, POBA and Korean insurers, including Hyundai Merchant, invested in the operator of London Orbital Motorway, or M25, as well as Britain’s High Speed 1 (HS1).