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Apollo co-founder Josh Harris says the SPAC trend is ‘here to stay’

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Joshua Harris, Apollo Global Management Co-Founder speaks during the 2020 Delivering Alpha conference on Sept. 30th, 2020.

CNBC

A notable private equity investor said Wednesday that the boom in special purpose acquisition companies was not just a passing fad.

Apollo Global Management co-founder Joshua Harris said at the Delivering Alpha conference presented by CNBC and Institutional Investor that SPACs were filling a needed role for companies that were closing in on going public. Apollo has both raised its own SPACs and exited its position in companies through the blank check vehicles, Harris said.

“The SPAC part of the IPO market is a part of the market that’s here to stay,” Harris told…



Source cnbc.com

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