Ares Considers New $400M SPAC

Ares Management is discussing raising $400 million for a new SPAC, even as dealmaking by blank-check firms has lagged, reports, citing people with knowledge of the matter.

In February 2021, Ares raised $1 billion for blank-check firm Ares Acquisition. That vehicle, led by CEO David Kaplan, has agreed to merge with X Reactor, a technology firm. The deal has a pre-money equity value of approximately $2 billion. Read more.

Source: Ares Considers New 0M SPAC