Gary Cohn, Pallas Advisors’ Chairman of the Board, spoke with CNBC’s “Squawk on the Street” team earlier this month about his new special purpose acquisition company (SPAC), co-founded with Clifton Robbins. During the segment, Gary shared his recommendations for economic policies in the wake of COVID-19 and discussed the upcoming Presidential election.
The new SPAC, Cohn and Robbins,, is uniquely positioned to offer beneficial deals to mid-cap companies, Cohn said. With over seventy years of experience in the financial services industry, Cohn and Robbins will use their collective insight to offer strategic guidance to the selling company through the acquisition process and beyond. Cohn highlighted that they’d like “to partner with a company [they] can get involved with, sit on the board, help management continue to drive the company and drive market share.”
Cohn also provided insight on the status of the U.S. economy in the wake of COVID-19. From a business activity viewpoint, Cohn remarked that his bullishness was validated by the recent M&A activity. He was also optimistic that the current market presents unique opportunities for larger businesses to acquire assets that could broaden and strengthen their investment profile in the future.
From a macro level economic perspective, Cohn encouraged further stimulus packages directed towards small businesses. He applauded the first iteration of the CARE stimulus as “extremely necessary” to keep businesses afloat. However, now that it is becoming more clear which areas of the economy need the most assistance, he called for a tailored stimulus package specific to small business needs in an effort to preserve free market competition and provide jobs.
View the full segment below: