Former LSE boss Rolet joins tech acquisition vehicle Golden Falcon

By Pamela Barbaglia

LONDON (Reuters) – Former London Stock Exchange boss Xavier Rolet has joined a newly-launched “blank check” company that is hunting for technology deals across Europe under the leadership of ex Barclays (LON:) banker Makram Azar.

The special purpose acquisition company, named Golden Falcon Acquisition Corp, will be listed on the New York Stock Exchange with a fundraising goal of 250 million euros (225.7 million pounds), a filing to the U.S. Securities and Exchange Commission showed.

So-called blank cheque companies are shell vehicles that raise cash on the stock market and hunt for a private company to take public.

Rolet, who left the LSE in 2017, will serve as an independent director of the new vehicle, the SEC filing showed.

Lebanese-born Azar – a 53-year old former KKR managing director who spent a decade at Barclays in senior executive roles – will serve as chief executive of Golden Falcon while former Investcorp Europe CEO, Scott Freidheim, will become the company’s chairman.

Golden Falcon could target a first purchase in 2021 worth several billions of dollars, a source familiar with the matter said, and will focus primarily on companies in Britain and continental Europe providing environmentally-friendly technology.

Golden Falcon will review anything from fintech, media and telecoms firms with a “green” angle, the source said.

Azar has been eyeing technology investments since he left Barclays in 2019, where he was chairman of banking for EMEA and also leading Barclays Bank PLC in the Middle East and North Africa.

Last year he launched his own private investment and advisory group Full Circle Capital.

The special purpose acquisition company is offering up to 28.7 million units – inclusive of a greenshoe option – at $10 a piece. Each unit consists of one share of common stock and half a warrant, exercisable at $11.50.

UBS, Moelis and EarlyBirdCapital Inc are working on the deal.