Bloomberg Law
Jan. 10, 2022, 10:30 AMUpdated: Jan. 10, 2022, 4:17 PM

Law Firms Won Big on SPACs in 2021 With $160 Billion Raised (1)

Roy Strom
Roy Strom

The SPAC market went to the moon last year, as blank-check companies raised a record of more than $160 billion and reaped windfalls for a long list of Big Law firms.

Kirkland & Ellis aided issuers on $15.5 billion worth of deals, Ellenoff Grossman $14.8 billion, and White & Case $10.3 billion, Bloomberg data show. On the underwriters’ side, Davis Polk & Wardwell, Skadden, Arps, Slate, Meagher & Flom, and Ropes & Gray led the way, each handling deals valued around $20 billion.

The process of using special purpose acquisition companies to purchase private concerns and take them public in ...

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