Do most banks have a dedicated SPAC team within IB?
Do SPAC teams usually work in tandem with ECM and M&A or do they handle the modeling themselves?
What type of exit opps do junior bankers on these teams usually have?
Looking at the league tables this year, it seems the BBs have stepped up their game whereas in the past CS and Cantor were the top banks for SPACs. Does anyone working in the industry have any outlook on the direction of the super hot SPAC market right now?
I have been having some trouble finding info about SPACs on here and any input is greatly appreciated, feel free to pm me or comment so I can pm you, thanks.
interested
The SPAC teams sit within ECM. Some firms have a SPAC-dedicated group within M&A that focuses on helping SPACs find targets. ECM will be involved in the IPO of the SPAC and raising the PIPE on the back-end for the M&A.
No one cared about SPACs until 6 months ago because they're only hot in volatile markets.
Thanks for the reply.
That is how it works in my bank too, was curious to see if other, larger banks operate the same way. The fees are deff thiccc.
bump - curious about analyst role within such a group at a BB and wat exits might exist beyond lateraling groups / banks. Thanks in advance!
if you don't mind me asking - which BB is this? only because i'm in the process for a similar role so was wondering if we're in the talks for the same role haha
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