Ara Partners, a Houston-based private equity firm specializing in industrial decarbonization investments, closed its debut fund, Ara Fund I, LP, at $400m.
The fund was backed by a diverse group of institutional investors in North America, Europe and Asia, including public pensions, sovereign wealth funds, endowments, foundations and family offices.
Co-founded by veteran investors Charles Cherington and Troy Thacker, Ara Partners specializes in industrial decarbonization investments investing in the industrial, chemical and materials, and energy efficiency sectors, seeking to build businesses that are focused on sustainability and ESG principles.
Current portfolio companies include:
- Puraglobe (a carbon-negative producer of high-specification synthetic lubricants),
- Transform Materials (a process technology provider for the low-carbon production of acetylene and high-purity hydrogen),
- Priority Power Management (an independent energy management services provider of renewable power and demand response solutions to industrial and commercial businesses), and
- Centric Infrastructure Group (an innovative local fiber and energy infrastructure company).
The fund has also made two additional industrial growth investments that are not publicly disclosed at this time.