Which is the Fund Mission?

The Fund mission is to offer an innovative investment solution to generate stable returns characterized by low volatility and de-correlation from financial markets, by investing into a diversified basket of US listed SPACs (listed on NYSE and NASDAQ). The Fund invests into the SPACs during their IPO period or on the market and the strategy adopted entails the mandatory divestment from each SPACs before the completion of the Business Combination (acquisition of the target). This strategy will allow to benefit from both the equity nature of SPACs and their REDEMPTION optionality: in fact, all SPAC Shareholders (including the Fund) will have the option to sell their shares on the market or to opt for the redemption of the capital invested at the IPO.

What is a SPAC?

SPACs (Special Purpose Acquisition Companies) are listed equity companies, allowing a team of Managers (the Sponsor) to collect capital on the market through an equity IPO for the purpose of acquiring a private operating company, which is to be identified within a max. 24 months period.

Key features of SPACs

The capital collected is 100% invested in 90 days US Treasuries held in an escrow account, segregated and not accessible at bulge bracket banks as Citi, Credit Suisse, JP, UBS, etc.
All costs of a SPAC until the BC (3-4% of capital collected) are borne by the Sponsor and not shared with investors
Until the BC, the SPAC is a listed equity position (regularly traded on the NYSE or on the Nasdaq)
If a target company is not identified within max. 24 months, all investors will be funded back (100% of capital invested + interests accrued in the escrow account)
If a target company is identified, each investor individually retains the option to ask for capital redemption at the General Shareholders Meeting (recovering 100% of capital invested plus accrued interests), or to remain invested into the New Company (NewCo)


fund strategy
PROGETTO - FONDO US SPAC DISCLAIMER ZEST SA Zest is an investment manager company based in Lugano and regulated by the Swiss Financial Market Supervisory Authority, FINMA. ZEST SA performs its financial activities solely in Switzerland, where it holds all the requested authorizations. Read more...


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