HONG KONG (BLOOMBERG) - A raft of funds and financiers in Asia is leveraging their deal-sourcing capabilities and understanding of US capital markets to jump on one of the hottest bandwagons on Wall Street - special-purpose acquisition companies or SPACs.
Among them are former Deutsche Bank and Lehman Brothers banker Joaquin Rodriguez Torres, who is now talking with more than a dozen companies in the region for his SPAC Poema Global Holdings that just raised US$345 million (S$458.6 million). Others diving into the action include LVMH-backed L Catterton s Asia unit, Hong Kong tycoon Richard Li, Singapore-based health-care entrepreneur David Sin and former hedge fund manager George Raymond Zage.