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.
More on Chinh Chu
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.
