Why the ultra-rich putting their money into blank-check companies SPACs raise money from investors and then look to acquire another business, usually a private one, within two years.Premium 2 min read . Updated: 04 Mar 2021, 09:00 AM IST Bloomberg Near-zero interest rates have prompted Asia’s wealthy to seek alternative channels of investment, paying special attention to SPACs sponsored by large private equity funds Share Via Read Full Story Asia’s richest families and individuals are jumping on the SPAC wagon, investing in the blank-check companies that have taken global markets by storm. Family offices including those backed by casino mogul Lawrence Ho are piling into special purpose acquisition companies to generate better returns in the low interest-rate environment.