| SPAC spurred pullback awaits, Wells Fargo sells asset management unit to PE duo Happy Tuesday, PE Hub readers!
It might seem like the SPAC saga is never-ending, but merger arbitrage strategists at DuPont Capital anticipate a market pullback at some point. DuPont’s Harris Arch told me in a recent interview that a SPAC spurred market retreat is welcome and needed.
Also, Wells Fargo announced the sale of its asset management unit, Wells Fargo Asset Management to GTCR and Reverence Capital Partners for a whopping $2.1 billion.
Read the full wire commentary on PE Hub...
That’s it for today! Have a great week, readers, and as always, write to me with feedback, tips and gossip or whatever at karishma.v@peimedia.com
Also of note (may require subscriptions) Pandemic winners: Lenders are competing to finance new life sciences real estate investments as institutional investors get attracted to the sector's covid resilience. Read more on PERE.
Big SPAC news: Lucid Motors has agreed to go public by merging with Churchill Capital Corp IV in a $24 billion deal. Read more on WSJ.
Moving out: Co-Founders of Chinese private equity firm Boyu Capital set up by grandson of former President of China, Jiang Zemin, have relocated to Singapore to reduce exposure to Chinese scrutiny, sources tell WSJ.
Fresh powder: Peak Rock Capital is staying on the fundraising trail after exceeding the $1.3 billion target set for a third flagship mid-market offering, sources told Buyouts. Check it out here.
PE Deals 
They said it “This [SPAC] is a compelling pocket of capital that all the large private-equity and venture firms in Asia will be considering.” Udhay Furtado, co-head of Asia equity capital markets at Citigroup Inc talks about SPACs sponsored by companies in Asia to WSJ.
Today's letter was prepared by Karishma Vanjani Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. 
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