Ara Partners (Ara), a private equity firm specialising in industrial decarbonisation investments, has closed Ara Fund II (Fund II) with approximately $1.1 billion in capital commitments.
The Fund was significantly oversubscribed, exceeding its $650 million initial target and increasing its hard cap. The Fund received commitments from a diverse set of returning and new institutional investors in North America, Europe and Asia, including public pensions, sovereign wealth funds, endowments and foundations.
Led by Managing Partners Troy Thacker and Charles Cherington, Fund II will continue Ara’s strategy of investing in the ongoing decarbonisation of the industrial economy, the greatest source of carbon emissions globally. Ara seeks investments in companies in the United States, Canada and Europe that have the potential to achieve significant reductions in carbon emissions. Ara works closely with management teams to enhance greenhouse gas (GHG) and waste reduction goals, while closely tracking environmental impact. In leveraging the team’s combined technical and operations expertise, Ara seeks to execute both buyout and industrial growth investments in high-growth companies across the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and food and agriculture sectors.
Ara Partners’ experienced investment team includes Partners Cory Steffek, Tuan Tran and Chris Picotte, as well as a deep roster of professionals operating from offices in Houston, Boston and Dublin, Ireland.
Read more/Source: Private Equity Wire
