How A-listers are driving the hugely speculative investment craze of Spacs
Ivan Sedgwick, LGB's Investments Director, commented in a piece in The Telegraph on Spacs:
“It is not clear what the Spac offers to investors,” says Ivan Sedgwick, investment director at LGB & Co. “Part of the Spac, typically 20pc, has been gifted on inception to the promoter [the management team and advisers]. That’s a terrific deal for the promoters. It may be that the new managers are so good they can get a superior return. But it’s not clear there’s much evidence for that.”
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