Bernard Arnault: Europe’s richest man is joining the SPAC craze
Tikehau Capital said in a statement on Monday that potential targets include asset management platforms, fintech firms, insurance services and diversified financial services companies. The focus will be on “scalable platforms offering strong profit growth potential,” it added, indicating that this will be the first of several SPACs it plans to launch.
Tikehau Capital did not provide details on the amount its SPAC is seeking to raise, saying only that the four sponsors plan to collectively invest at least 10% of that amount. Arnault has a net worth of $114 billion, making him the fourth richest person globally and the richest individual in Europe, according to the Bloomberg Billionaires Index.
The SPAC will IPO in Amsterdam, the latest in a series of wins for the Dutch city’s exchange. Euronext Amsterdam is one of the biggest beneficiaries from changes that mean EU financial institutions cannot trade European shares on UK exchanges after Brexit.
— Julia Horowitz contributed reporting.