| Biden to pick Becerra to head Health and Human Services, Investors dissect Cano Health's $4.4bn SPAC merger, Blackstone- and CVC Partners-backed Paysafe nears SPAC deal, AKKR to produce 10x-plus return on TrueCommerce, AIP takes SEACOR private Good morning!
As the world awaits plans of another stimulus bill, President-elect Joe Biden has chosen Xavier Becerra – a defender of the Affordable Care Act – as his nominee for secretary of Health and Human Services. The nomination of the Democratic attorney general of California is set to be formally announced early this week along with several other top healthcare advisers, according to the New York Times.
Besides playing a role in the incoming administration’s response to the covid-19 pandemic, would the appointment have any meaningful implications for private equity investors in healthcare? Write to me with your thoughts.
SPACs: I recently got the chance to catch up with John LeClaire and Chris Wilson of Goodwin Procter, the law firm representing Cano Health on its $4.4 billion merger with Jaws Acquisition Corp, a SPAC sponsored by real estate investor Barry Sternlicht.
“With the notion that there’s a liquidity option out there at valuations like Cano’s, regular way PE buyers may worry – ‘How am I going to ever buy anything at that price?!’” said LeClaire, co-founder and co-chair of Goodwin’s Private Equity group. That said, LeClaire cautioned, “it’s hardly a one-size fits all type of thing. A number of favorable things coalesced for Cano.” Check out my story for more insight from Goodwin.
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And as always, write to me at [email protected] with any tips, feedback or just to say hello.
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Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards.
Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year.
Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian.
If you have additional questions, email Private Equity Editor Chris Witkowsky at [email protected].
Also of note (may require subscriptions) Progress: The New York Times takes a detailed look into how Moderna’s vaccine works, after its clinical trial showed an efficacy rate of 94.1 percent in preventing Covid-19.
Diversity issue: Bloomberg finds that the boards in charge of SPACs – amid their newfound popularity this year - are overwhelmingly men.
ESG: Carlyle is among firms that is increasingly factoring in climate change impacts when making investment decisions, writes the Wall Street Journal.
PE Deals 
They said it “While much of the infrastructure that has enabled the e-commerce economy has existed, you need people to adopt and change behavior ... That has been one of the last dams that have been holding back a really large acceleration of the shift to e-commerce.”
Alexander Oettl, associate professor of strategy and innovation at Georgia Institute of Technology, speaks to the WSJ about the e-commerce push forcing companies to become more efficient.
Today's letter was prepared by Sarah Pringle. Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. 
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