The potential transaction would give an equity valuation of nearly $760m to the advisory business of Perella Weinberg, as per media reports

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Perella Weinberg reportedly looking to go public through a potential merger with FinTech Acquisition Corp IV. (Credit: aymane jdidi from Pixabay)

US financial services firm Perella Weinberg Partners is reportedly in advanced talks for a potential merger with FinTech Acquisition Corp IV, a special purpose acquisition company (SPAC).

The potential deal would give an equity valuation of around $760m to the advisory business of Perella Weinberg Partners, reported the Financial Times, citing undisclosed sources who have knowledge about the development.

Fintech Acquisition Corp IV is sponsored by banking tycoon Betsy Cohen.

In September 2020, the blank cheque company raised $230m through an initial public offering at a price of $10 per unit.

According to the publication, the deal between the SPAC and the financial services firm is likely to be announced by the end of this year. The merger with the blank cheque company would help the financial services firm go public.

Established in 2006, Perella Weinberg Partners currently offers investment banking advisory services to corporations, institutions, governments, and other clients.

Perella Weinberg Partners helps its clients in merger and acquisitions, strategic advisory, capital structure advisory, financial restructuring, and private capital advisory initiatives.

The company has a workforce of over 550 employees and has offices in the US, the UK, France, Germany.

In September 2020, Perella Weinberg Partners formed a SPAC called PWP Forward Acquisition Corp. I (PFAC), which will pursue business combination with companies owned or led by women.

The company opened a new office in Munich in March this year. It was the company’s first in Germany and third in Europe.

Apart from Munich, the firm also maintains offices in New York, Houston, London, Calgary, Denver, Los Angeles, Paris and San Francisco.