Apollo Global Management is raising $500 million for a fund to invest in SPACs, the buyout firm’s latest move to capitalize on the investment trend, Reuters reports, citing people familiar with the matter.
Apollo’s fund, one of the first of its kind, will buy stakes in the IPOs and private placements of SPACs, as well as provide liquidity to SPAC managers by acquiring their founder shares, the sources said, requesting anonymity because the matter is confidential. Read more.
