Ropes & Gray represented the underwriters in Ares Acquisition Corporation III’s $395 million upsized IPO. The transaction, which closed on July 1, is one of the largest SPAC IPOs of 2026 to date along with Gores Holding XI, Inc.’s $358.8 million IPO which the firm also advised.
The company’s sponsor is a subsidiary of Ares Management Corporation (NYSE: ARES), a leading, global alternative investment manager with approximately $644 billion of assets under management as of March 31.
The team was led by capital markets partners Christopher Capuzzi and Paul Tropp and included tax partner Dan Zuckerman.
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