Bulldog Bites Into Blank Checks

Goldstein Launching SPAC Fund
by Paula Schaap

Activist hedge fund firm Bulldog Investors is preparing a special purpose acquisitions companies (SPACs) fund in anticipation of strong returns for that sector.

Bulldog’s cofounder Phil Goldstein said that the firm had a lot of experience over the past two years in SPACs. Sometimes called “blank check” companies, these firms raise a pool of money to put into unspecified mergers.

Goldstein said he likes the SPAC model because most of the money is held in a trust.

“We see a lot of opportunities in SPACs to make money with pretty low risk,” Goldstein said.

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