Larger, wealthier firms are moving into the market to handle the summer’s hottest fundraising craze: special purpose acquisition companies, or SPACs. The rush into the space is threatening the long-time leader in the space, mid-size New York firm Ellenoff Grossman & Schole.
Not Shy: “We are competitive people and we don’t shy from the challenge,” said Douglas Ellenoff, whose firm in recent years routinely handled more SPAC initial public offerings than any other. “There was a period of time where no large Am Law 200 firm would have considered poaching from us.”
New Rankings: A host of large firms including ...