Not all SPACs will 'make it over the finish line,' Gary Cohn says

Gary Cohn, adviser to Springcoin Inc. and former director of the U.S. National Economic Council, speaks during the Context Summits Leadership Day in Miami, Florida, U.S., on Wednesday, Jan. 30, 2019.
Scott McIntyre | Bloomberg | Getty Images

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Special purpose acquisition companies are on track for a record-setting year, but former Trump economic adviser Gary Cohn told CNBC on Monday that not all SPACs are going to "make it over the finish line."

His comments come after he teamed up with former hedge fund manager Cliff Robbins to launch their own SPAC. Called Cohn Robbins, the fund initially sought to raise $600 million, but has since boosted the offering to $720 million.