Greg Beard, a former senior partner at private equity company Apollo Global Management Inc, plans to raise $200 million in an IPO for a blank-check acquisition firm focused on the energy sector, according to people familiar with the matter. Beard’s special purpose acquisition company (SPAC) will file for an IPO with the U.S. Securities and Exchange Commission in the coming weeks, one of the sources said.

Beard headed Apollo’s global natural resources group for nearly a decade until late 2019, when he moved to an adviser role as the private equity firm shuffled the group’s management. Beard left Apollo in June 2020, according to his LinkedIn profile.

More recently, Beard became senior adviser to Houston-based private investment firm Andros Capital Partners, launched last year and focused on the oil and gas industry. Apollo-backed Spartan Energy Acquisition Corp, launched in 2018 with Beard as chairman, bought electric-car maker Fisker Inc at a $2.9 billion valuation in July last year.


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Source: Reuters

Reporting by Shariq Khan in Bengaluru, Joshua Franklin in Boston and David French in New York; Editing by Shounak Dasgupta