Perella Weinberg, a boutique investment bank founded in 2006 by Joseph R. Perella, Peter A. Weinberg, and Terry Meguid, has announced it would be going public through a merger with a special purpose acquisition company.
2020 has been the year of the blank check company, with billions of dollars of high profile transactions occurring this year. That’s set to ramp up in 2021 with tens of billions of dollars in funds already raised by SPACs that still need to be allocated.
While EV companies and cloud companies have made headlines with SPACs, more traditional companies like Perella Weinberg have been using them as well.
The deal is valued at $975 million and includes significant investments from major wealth managers like Wellington and Fidelity.