ICYMI (In Case You Missed It) two giants of the investing world – Sir Martin E. Franklin and Chinh Chu sat down with Bloomberg’s Ed Hammond at the Bloomberg Invest Summit in New York earlier this summer.
Chinh Chu the Founder and Senior Managing Director of CC Capital Partners teamed with Sir Martin Ellis Franklin, founder of a plethora of corporations including Element Solutions Inc. and the Jarden Corporation to discuss the outlook for SPACs (special purpose acquisition company) and it did not disappoint.
Both respected businessmen with a history of making big deals, the 30-minute talk moderated by Bloomberg’s Ed Hammond offered some illuminating insights into their investment decisions as well as the outlook for SPACs in general.
Sir Martin E. Franklin talked about the restrictions in the US and the different types of SPAC, whilst Chinh Chu whose estimated worth is believed to be in excess of $1.1 billion discussed how for a family-owned business, the expertise, the halo effect and experience of a SPAC can considerably increase the value of an IPO.
Both men agreed that SPACs should be in it for the long term. Sir Martin even stated that he is in for ‘grandchildren’ which was particularly apt after Chinh Chu described the Britsh-born magnate as the ”Grandaddy of SPAC.” The myths of the ‘hit and run’ job by SPACs were certainly dismissed in the brief but informative talk.
They discussed what they look for in a company and generally, both investors were in broad agreement on the conditions to make an investment.
If you have not seen the two investing legends in the discussion, take half-an-hour to watch the video below. Some thought-provoking statements and a strong illumination into the world of SPAC and its outlook.
