Cain International Weighs Raising $250 Million for First SPAC

Bookmark

Mar 02 2021, 2:10 AMMar 02 2021, 3:32 AMMarch 02 2021, 2:10 AMMarch 02 2021, 3:32 AM

(Bloomberg) -- Cain International is exploring raising about $250 million for its debut special purpose acquisition company, according to people with knowledge of the matter.

The investment firm, led by Jonathan Goldstein, is set to pursue a New York listing for the blank-check company, said the people, who asked not to be named because the information is private. Terms aren’t finalized and could still change.

A spokeswoman for Cain declined to comment.

Cain, which operates in Europe and the U.S., is focused on investments in the real estate, hospitality, lifestyle and leisure sectors. In October, the firm said it had hired former Walt Disney Co. executive Nick Franklin as a Los Angeles-based senior managing director.

Cain is backed by Todd Boehly’s Eldridge Industries, which last year raised two blank-check vehicles.

More than 280 SPACs have already announced plans to go public via U.S. listings in 2021, seeking to raise about $85 billion, according to data compiled by Bloomberg.