What’s Driving Renewed Interest in the SPAC Market?
In this episode of The SPAC Podcast, Candice Beaumont, Chief Investment Officer of L Investments and Chairwoman of Salsano Group, shares her perspective on the renewed energy in the SPAC market. With deep experience in capital markets, M&A, and board leadership, Candice discusses how the SPAC cycle has evolved from a major cooldown to an emerging wave of enthusiasm, particularly in certain high-growth sectors.
She highlights the correlation between equity capital markets and SPAC activity, the resurgence of specific industries such as crypto and blockchain, and how changes in market conditions have opened the door for previously stalled deals. Drawing from her extensive track record in both investment and corporate governance, Candice offers insights into why some sectors are seeing strong post-de-SPAC performance and what broader implications this might have for the capital markets ecosystem.
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Candice Beaumont – Learn more about L Investments:
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Michael J. Blankenship is a licensed attorney and is a partner at Winston & Strawn LLP. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is intended for informational and educational purposes only and should not be interpreted as legal, financial, or compliance advice. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the official policies or positions of any regulatory agency, law firm, employer, or organization.
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Mike (00:00): So SPACs had a meteoric rise and then a major cooldown. Where do you think we are now in the SPAC evolution cycle?
Candice (00:06): I think the cycle is coming back. When we entered the cycle, it was the end of the upturn, and then it became very difficult to get PIPEs done, to get companies closed. Things were trading poorly, equity capital markets were weak, and the IPO market was weak. I think we're starting to see new enthusiasm in capital markets, and I think equity capital markets and SPACs are highly correlated.
Certain sectors, like crypto and blockchain, are on fire right now. You're seeing some companies trade up significantly, which is incredible. There’s a lot of enthusiasm for these companies on the de-SPAC, especially in sectors like crypto or blockchain, which were on hold for several years. Under prior regulatory environments, it was difficult for crypto companies to go public. Now, with changes in policy, there has been increased enthusiasm for that asset class. Many of the de-SPACs that were on hold have now entered the market, and that enthusiasm has carried over into other sectors. I think it’s the beginning of another strong phase for SPACs.
Candice Beaumont
Chief Investment Officer
Candice Beaumont serves as Chairman of the Salsano Group, a Panama based family office & conglomerate invested in private equity. She is also Chief Investment Officer of L Investments, a single family office invested in public and private equity. Ms. Beaumont has been a speaker at numerous family office and investment conferences globally and is a NYU Stern Family Office Council member serving on the Steering Committee. Ms. Beaumont is a member of the Board of Directors of numerous SPACs including Clean Earth Acquisition Corp. (Nasdaq: CLINU), Israel Acquisitions Corp (Nasdaq: ISRLU) is an Advisor to Athena Technology Acquisition Corp (NYSE: ATHN.U) and Advisor to Springwater Situations Corp. (NASDAQ: SWSSU). She is also an Advisory Board member of the Family Office Association, a global membership organization exclusive to single family offices and families of significant wealth.
Ms. Beaumont remains committed to community and philanthropic causes and serves on the International Council of Advisors for Global Dignity, is a part of the Academy of The Global Teacher Prize, founded by the Varkey Foundation as well as member of Athletes for Hope. Candice was a member of Milken Young Leaders Circle and is an active member of Young Presidents Organization.
Candice Beaumont has well over a decade of experience in the investment business. She started her career in Corporate Finance at Merrill Lynch. Ms. Beaumont worked as an investment banker at Lazard Frères for several years, executing over $20 billion of merger and acquisition advisory assignments. She le…
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