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M3-Brigade Acquisition V Corp.
Mohsin Meghji's fifth SPAC, M3-Brigade Acquisition V Corp., raised $287.5M in 2023 to pursue a North American middle-market combination.
M3-Brigade Acquisition V Corp.
M3-Brigade Acquisition V Corp. is the fifth blank-check company led by restructuring veteran Mohsin Meghji, formed in 2023 and listed on the New York Stock Exchange. Meghji, founder of advisory firm M3 Partners, brought his workout expertise to the SPAC market starting in 2020, when the first M3-Brigade vehicle raised cash at the height of the pandemic-era SPAC wave. The parent franchise sits alongside Brigade Capital Management, the credit-oriented asset manager that anchors the sponsor group. This fifth vehicle priced at $287.5 million in December 2023 with an explicit mandate to combine with a North American middle-market business generating steady free cash flow. The trust structure gives management until mid-2026 to identify and close a deal, or face liquidation. Sector preferences in prior filings have leaned toward energy transition, industrial companies, and disciplined roll-ups where Meghji's restructuring lens can surface targets that are under-owned or operationally mispriced. Brigade Capital's presence supplies a credit-market sanity check on valuation and financing structure that pure-equity SPACs lack. The M3-Brigade franchise has now raised over $1.5 billion in aggregate across five vehicles since 2020, though earlier vintages traded in a market that has since repriced SPAC equity harshly. The team's operational footprint runs through M3 Partners' New York base, with no disclosed satellite offices. As of the December 2023 IPO, the vehicle had not yet announced a definitive agreement, making it a live, pre-deal check for allocators who monitor SPAC sponsor track records rather than just post-close share prices. What separates M3-Brigade from the generic SPAC is that Meghji is not a celebrity private-equity raiser but a working restructuring partner whose day job involves forensics on balance sheets under stress. That inversion of the typical sponsor profile — a workout expert hunting for a going concern — is the closest thing to an edge this structure offers.
General information
Firm type
Asset Manager
Year founded
2023
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Mohsin Y. Meghji
Chairman and Chief Executive Officer
Charles E. Garner
Chief Financial Officer
Sector focus
Frequently asked questions
Who runs investment decisions at M3-Brigade Acquisition V Corp.?
Mohsin Y. Meghji serves as Chairman and CEO, with ultimate authority over target selection and deal execution. He is the founder of M3 Partners, a restructuring advisory firm, and has led the M3-Brigade SPAC franchise through four prior vehicles. Charles E. Garner serves as CFO.
What is the deadline for M3-Brigade V to complete a deal?
The trust is structured with a standard 24-month clock from the December 2023 IPO date, meaning a business combination must be announced by late 2025 and closed by mid-2026 absent an extension vote. If no deal closes, the trust liquidates and public shareholders receive their pro-rata share of the escrowed funds.
How is Brigade Capital Management involved in the SPAC?
Brigade Capital Management is an affiliated credit investor that anchors the sponsor group. Its presence provides the SPAC with a direct line to credit-market pricing and a potential co-investment partner for deals that require both equity and debt, distinguishing the structure from pure-equity SPAC sponsors.
What sectors does M3-Brigade V target?
The registration statement identifies North American middle-market companies with durable free cash flow, with a focus on energy transition, industrial businesses, and sectors where a restructuring lens can find operational mispricings. The vehicle is sector-agnostic within that broad middle-market mandate.
What happened to the prior four M3-Brigade SPAC vehicles?
Earlier M3-Brigade vehicles launched during the 2020–2022 SPAC wave. Some completed combinations, while others faced the post-deal equity repricing that broadly affected the SPAC cohort. The record is mixed and requires case-by-case diligence, which is why SPAC allocators track sponsor deal-by-deal rather than relying on aggregate franchise totals.
Does M3-Brigade V allow co-investment alongside external capital?
SPAC business combinations routinely include PIPE financing and co-investment from institutional limited partners. Brigade Capital's affiliated capital and Meghji's advisory network create possibility for club-style syndication, but no firm co-investment policy is publicly documented beyond standard SPAC market practice.
Where does M3 Partners' restructuring expertise apply to a going-concern acquisition?
Meghji's day job involves forensic analysis of over-levered balance sheets and operational turnarounds. The investment thesis for M3-Brigade V is that this lens can identify targets that are under-managed rather than broken, allowing the SPAC to buy a fundamentally sound business at a price that reflects temporary operational neglect.
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