Bulldog Preps SPACs Hedge Fund

Activist hedge fund shop Bulldog Investors is adding a new strategy to its product line. The Saddle Brook, N.J.-based firm is launching the Absolute Plus Fund, focused on investing in special purpose acquisitions companies or “blank check companies,” this month with some $8 million in assets.

“There are great opportunities there and I think we’re one of the top hedge fund managers in understanding how they work and their risks and rewards,” said co-founder Phil Goldstein.