SPAC pushback

Some LPs are thinking about potential conflicts of interests around firms raising SPACs.

SPACs: All the rage with GPs, a little less so with some LPs, Chris Witkowsky reports. LPs are beginning to question potential conflicts of interest around firms raising SPACs. Former head of private equity at Texas Municipal Retirement System Christopher Schelling, said: “It’s a big conflict of interest for a fund to also raise a SPAC, particularly when there is an overlap with the fund in strategy, size, etc.”

Email prepared by Graham Bippart