The Valuable Insights of Chinh Chu on SPAC Deals


Chinh Chu is known to be the Founder as well as the Senior Managing Director of the CC Capital. He has been known to be the spearhead of creation of 3 different SPACs ever since its advent in the year 2016. CF Corp stepped up and effectively gathered $1.2 billion for buying Fidelity and Guaranty Life. For this company he happened to play the role of Co-Executive Chairman.

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On the other hand, there was second SPAC in the form of Collier Creek Holdings that ended up raising $475 million to purchase a company at consumer segment. And the third SPAC happens to be CC Neuberger that manage to raise an amount of $414 million in order to acquire several business ventures in the best way possible. The focus of this third SPAC basically lies on business services, technology and financial sectors. Mr Chinh Chu also managed to lead effort of CC Capital for acquiring Dun & Bradstreet private at some profitable deal of $7.2 billion which was closed in the month of February, 2019.

All the above described SPAC deals were extremely beneficial and profitable from business point of view. Before founding the company CC Capital, Mr. Chinh happened to be the Co-Head and Senior Managing Director of the Private Equity at Blackstone. He spent around 25 years at playing this role with authority and perfection.

Chinh Chu CC Capital was really known to quite a profitable and successful company to say the least. He took this organization even higher over the years. On the other hand, he had also as a member in board of the NCR Corporation & Stearns Mortgage. Moreover, he even served on Board of the Directors at different companies. Some of these companies are Kronos, Freescale Semiconductor, SunGard Data Systems, Alliant, Biomet, Celanese Corporation, LIFFE (London International Financial Features and Options Exchange), Graham Packaging & Allied Barton Security Services etc. He has gained extensive experience by playing roles at different positions of such companies and corporations over the years.

Before proceeding to join Blackstone in the year 1990, he had also worked at a company names Salomon Brothers at Mergers and Acquisitions Department.

What is SPAC?

The effort and endeavour of Mr. Chu has been very useful and effective in the founding and development of SPAC. But a question can pop up in your mind as what SPAC really is.

SPAC stands for Special Purpose Acquisition Company. It is known to be nothing but as some kind of ‘blank check’ shell corporation which is basically designed for taking companies and corporations public without going through IPO process. SPAC deals have been there for decades now but in recent years it has got so popular and useful.

As the roiling markets have slowed down the process and methods of IPO a little bit, SPAC has gained its popularity instead for its different reasons. Many companies have started showing their eagerness and interest in this business venture.

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