Ara Partners closes USD-400m industrial decarbonisation fund
Private equity firm Ara Partners has achieved a USD-400-million (EUR 369.5m) close for its debut fund, Ara Fund I LP, which was created to support the decarbonisation of the industrial economy through investments in North America and Europe.
Capital commitments came from various institutional investors in North America, Europe and Asia, including public pensions, sovereign wealth funds, endowments, foundations and family offices. “We seek near-term, tangible carbon reductions and profitable growth through rapid adoption of sustainable industrial products and services.
These products are critical building blocks in the transition to a carbon neutral future,” stated managing partner Charles Cherington, who co-founded the private equity firm alongside Troy Thacker.
The current portfolio of Ara Fund I includes half-a-dozen investments, including high-purity hydrogen production technology start-up Transform Materials and energy management services provider Priority Power Management, which offers renewable power and demand response solutions to industrial and commercial businesses.
Read more @Renewables Now
