Serial Dealmaker Bill Foley Looks for Carveouts With New SPAC

Bill Foley, one of the highest-profile names in blank-check dealmaking, is on the lookout for public company assets that it could take public as a separate business.

One of Foley’s two newest special purpose acquisition companies, which raised $2.07 billion combined last week, is reaching beyond his typical scope for transactions. Instead of focusing solely on technology or fintech businesses, the SPAC will also look at carveouts from publicly traded consumer companies such as Revlon Inc., he said in an interview on Monday.

“We are going to start looking at large public companies that have divisions to dispose,” Foley ...