Ares Management is discussing raising $400 million for a new SPAC, even as dealmaking by blank-check firms has lagged, Bloomberg 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 Energy Reactor, a nuclear power technology firm. The deal has a pre-money equity value of approximately $2 billion. Read more.
