Perella Weinberg plans a SPAC for a women-led business - Bloomberg

Sep. 09, 2020 12:57 PM ETBy: Liz Kiesche, SA News Editor
  • Perella Weinberg Partners plans to set up a blank-check company  with the aim to acquire a business owned and led by women, Bloomberg reports, citing a memo it reviewed.
  • PWP Forward Acquisition will aim to raise ~$200M, according to the memo.
  • Stacia Schlosser Ryan, Perella Weinberg's co-head of consumer and retail as well as co-head of diversity and inclusion, will be CEO of the special purpose acquisition company.
  • The SPAC will focus on acquisition targets in consumer products and services, health and wellness, and financial technology.
  • SPAC fundraising has surged to a record this year, with more than $34B raised vs. $12B raised in 2019, according to Bloomberg data.
  • Of the more than 160 SPACs that have gone public since 2019, Perella Weinberg figures that only one has had a women CEO.
  • This isn't the firm's first blank-check company. In 2010, Perella Weinberg's BPW Acquisition Corp. acquired women's clothing retailer Talbots.

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