More than 80% of unlisted institutional investors say they do not want to invest in these new listed acquisition vehicles, which they consider risky, according to the Coller Capital barometer. A mistrust that arises against a backdrop of competition between SPAC and non-listed players, both in search of acquisitions.

KKR, Providence and Cinven completed in mid-November a delisting of 5.3 billion euros on the Spanish telecoms operator MasMovil.

Bankers, businessmen, they swear by these new listed acquisition vehicles, the PSPCs. Xavier Niel has just launched a second with Matthieu Pigasse, the investment bank Perella Weinberg is ready to be bought out via a SPAC by the serial finance entrepreneur Betsy Cohen, and the American activist Bill Ackman has made known this was that it was going to launch the largest vehicle of its kind ever raised at $ 4 billion. But the big unlisted investors seem to want to turn away from it.

86% of them have not invested in PSPCs and have no intention of doing so in the future, according to the Coller Capital benchmark barometer conducted in the fall among a panel of 113 major institutional investors. on the unlisted, American, Asian and European.