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Private equity and venture capital managers don’t see special purpose acquisition companies as competition, at least now that the SPAC “gold rush” is drying up. Fund managers ranked blank-check companies last on their list of top competitors in BDO’s private capital pulse survey in March, reflecting questions about the “longer-term viability of the SPAC model,” the firm said in a report on the findings Monday. Because blank-check companies “may not have the cash on their balance sheets to make the acquisitions,” many SPACs need to secure a private investment in public equity, or PIPE deal, in order to make their promises happen. ....