True Potential eyes $2bn SPAC - reports

Wealth manager also considering sale

True Potential is considering the unusual move of floating in the US via $2bn Special Purpose Acquisition Company (SPAC).

Credit Suisse's US team are working to merge True Potential with a special acquisition company, the Evening Standard has reported. SPAC deals propel Q1 M&A activity to strongest start since 1980 The company was looking to sell in 2018, but the process did not come to anything as talks broke down in early 2019. Last month, reports showed True Potential was up for sale again, with frontrunners including Lloyds Banking Group, Franklin Templeton and Cinven. There has been a surge in SPAC activity, with the full-year annual record of 256 SPAC IPOs set in 2020 already surpassed this y...