By Reuters
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LONDON - Investment platform Climate Transition Capital said on Tuesday it will launch a 190 million euro ($226 million) Special Purpose Acquisition Company (SPAC) aimed at investing in companies that are "pioneering" climate transition.
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The company has already attracted investment from BlackRock, the world's largest asset manager, and commodities trader Hartree, it said.
SPACs raise funds to acquire a private company and take it public, and are the latest global craze in fundraising with record amounts funnelled to SPACs in the last two years.
($1 = 0.8405 euros)
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