Investment banker Ken Moelis is aiming to raise $1.2 billion from three new SPACs

• The three SPACs aim to raise a combined $1.2 billion, according to filings cited in a Bloomberg report.
• Investment bank Moelis & Co. is sponsoring the SPACs.
• Ken Moelis will be the chairman of the blank-check firms.

Billionaire investment banker Ken Moelis is planning to raise $1.2 billion from three new special purpose acquisition companies, or SPACs, according to a report Tuesday.

Moelis & Co., the boutique investment bank founded by Moelis, is sponsoring the SPACs, according to a Bloomberg report.

The largest of the blank-check firms, Atlas Crest Investment Corp. III, is aiming to raise $600 million in an initial public offering, said the report, citing filings with the Securities and Exchange Commission.

Atlas Crest Investment Corp. IV is planning to raise $400 million, and Atlas Crest Investment Corp. V is seeking a $200 million offering.

Moelis will serve as chairman of the SPACs, the report said.

Last month, Archer Aviation, an electric aircraft startup, reached a deal to go public through a merger with a blank-check company backed by Moelis. The deal was valued at around $3.8 billion.