$CFFA Believed To Merging With GCM Grosvenor

$CFFA Believed To Merging With GCM Grosvenor - Image

According to WSJ.com, GCM Grosvenor is set to merge with a SPAC in order to take the Chicago asset manager public, according to apparent insiders. The firm, which is currently owned by a group of its executives and private-equity firm Hellman & Friedman, will combine with a SPAC (CF Finance Acquisition Corp.) CFFA. The deal is apparently worth around $2B according to those sources. 

A group of investors which includes former Citigroup Inc. banker Michael Klein will put an additional $195 million into the combined company at the time of closing, while Cantor will invest another $30 million. Mr. Klein has launched a series of his own SPACs, one of which in July agreed to merge with MultiPlan Inc. Which is another Hellman & Friedman portfolio company. That deal which is worth around $11B was the biggest ever SPAC deal! 

Share the story on social media!

In Other News!