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Breakingviews 3 Min Read Peter Weinberg, head of advisory at Perella Weinberg Partners, speaks during a Reuters Breakingviews panel in New York, U.S. January 10, 2017. REUTERS/Lucas Jackson NEW YORK (Reuters Breakingviews) - Perella Weinberg is injecting some financial sense into one of the hottest market trends. The advisory firm founded by Joseph Perella, Peter Weinberg and Terry Meguid has registered a $977 million valuation in a deal to sell itself to a special-purpose acquisition company. It is a sensible price for a real business in a competitive market. The firm’s 60-odd partners made their careers doling out advice to companies like cruise-liner operator Royal Caribbean and private equity giant KKR. The boutique firm, with a 15 year track record, brought in $533 million of revenue in 2019, posting a compound annual growth rate of 15% on average over the three years prior. On an adjusted basis, Perella Weinberg actually makes a profit, too. ....
SPACs Push it to the Limit into New Year's Eve yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff 2 Min Read (Reuters) - Boutique investment bank Perella Weinberg Partners on Wednesday agreed to go public through a merger with a blank-check firm, or a special purpose acquisition company (SPAC), backed by banking entrepreneur Betsy Cohen in a deal valued at $975 million. Cohen’s FinTech Acquisition Corporation IV, which had raised $230 million in September through an initial public offering (IPO), will acquire Perella Weinberg in a deal that includes a commitment of $125 million from investors such as Fidelity Management and Wellington Management. The merged entity will list on the Nasdaq under the symbol ‘PWP’, the companies said in a statement. The deal is expected to close in the first half of 2021, pending approvals. ....
(Separate multiple addresses with a comma) Your Email Address Your Message (optional) Perella Weinberg Partners, FinTech IV Execute Business Combination Agreement December 30, 2020, 08:33 AM Perella Weinberg Partners (âPWPâ), a leading global independent advisory firm, and FinTech Acquisition Corp. IV, a special purpose acquisition company, have entered into a definitive business combination agreement. Upon closing of the transaction, the combined company (the âCompanyâ) will operate as Perella Weinberg Partners and will be listed on NASDAQ under the new symbol âPWP.â The transaction reflects an implied equity value for the Company of approximately $975 million. Founded in 2006 by Joseph R. Perella, Peter Weinberg and Terry Meguid, PWP provides independent strategic and financial advice to a broad client base globally, including corporations, institutions, governments, sovereign wealth funds and private equit ....
Perella Weinberg to go public via US$975-million deal with Betsy Cohen s SPAC Toggle share menu Advertisement 30 Dec 2020 11:35PM Share this content Bookmark REUTERS: Boutique investment bank Perella Weinberg Partners on Wednesday agreed to go public through a merger with a blank-check firm, or a special purpose acquisition company (SPAC), backed by banking entrepreneur Betsy Cohen in a deal valued at US$975 million. Cohen s FinTech Acquisition Corporation IV, which had raised US$230 million in September through an initial public offering (IPO), will acquire Perella Weinberg in a deal that includes a commitment of US$125 million from investors such as Fidelity Management and Wellington Management. ....