Deals
Ares Considers New $400 Million SPAC Despite Market Lull
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Ares Management Corp. is discussing raising $400 million for a new special purpose acquisition company, even as dealmaking by blank-check firms has lagged, according to people with knowledge of the matter.
The alternative asset manager is in discussions with underwriters and has held meetings with prospective investors, said one of the people, all of whom requested anonymity discussing confidential information. Terms aren’t finalized and Ares could decide against raising a new SPAC.