August 05, 2020

FundFire Quotes Bill Haddad on GCM Grosvenor Merger with Cantor Fitzgerald

1 min

On August 5, 2020, FundFire quoted Bill Haddad on the merger between GCM Grosvenor and Cantor Fitzgerald.

According to the article, GCM Grosvenor is set to go public by merging with a special purpose acquisition company (SPAC) sponsored by Cantor Fitzgerald. The Chicago-based global alternatives manager, which has $57 billion in assets, will join a small group of alts managers that have gone public, but industry watchers say that could change in coming years.

SPACs, also known as blank check companies, have experienced a boom so far in 2020, as reported, with the SPAC IPO tally at 57, according to a count from

SPACs have become "very hot" and are disrupting the regular IPO market, says Haddad. "This really shows the reach of SPACs," he says. "[Alternatives] is a sector that doesn’t see a lot of companies go public period, and even this sector has found a SPAC."