Corsair Capital highlighted its investment in a special purpose acquisition company in its first-quarter letter to investors. The Corsair team highlighted FG New America Acquisition Corp, emphasizing that the SPAC presents an exciting opportunity after its agreement to merge with OppFi, a leading fintech platform powered by artificial intelligence.
Q1 2021 hedge fund letters, conferences and more
Management
The Corsair team noted that FG New America is led by Joe Moglia, a hall of fame business operator and long-term value creator who grew TD Ameritrade from a $700 million market capitalization to $20 billion. They noted that Moglia entered the MBA program at Merrill Lynch in 1984, and four years later, he was the firm’s number one producer globally.
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