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Ara Partners Closes Second Fund

Industrial decarbonisation-focused private equity firm Ara Partners has closed Ara Fund II with approximately $1.1bn in capital commitments.

Led by Managing Partners Troy Thacker and Charles Cherington, Fund II will continue Ara's strategy of investing in companies in the United States, Canada and Europe that support the ongoing decarbonization of the industrial economy.

"We are extremely gratified by the very strong interest in Fund II and pleased to welcome several well-respected institutional investors to our limited partner base," said Cherington. "We particularly appreciate the support of our returning investors from Fund I and look forward to pursuing strong returns for all of our partners through an investment portfolio that is actively reducing GHG emissions, carbon and waste."

"We're pleased to see the investment community recognize Ara Partners' distinctive approach to sourcing and investing in innovative companies at the forefront of a decarbonizing world," said Thacker. "We believe that our differentiated focus on lowering carbon emissions in the industrial sector is an important piece of the global climate effort and look forward to continuing to execute investments across this growing sector."

Current portfolio companies of Fund II are Polar Sapphire (high purity alumina serving Li-ion battery, LED, sapphire and semiconductor markets), Aloxe (European PET plastics recycling platform), px Group (UK industrial asset operator focused on renewables and decarbonization), Anesco (a UK-based renewable energy and energy efficiency projects company) and Divert (recycler of unsold retail food waste into renewable natural gas).

Lazard acted as placement agent, and Debevoise & Plimpton served as legal counsel in the formation of Fund II.


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