Ara Partners opens Dublin office after closing $1.1bn fund

Ara Partners, a US private equity firm specialising in industrial decarbonisation investments, is opening a Dublin office after closing a second fund with $1.1 billion (€940 million) of capital commitments.

The firm said it using the new premises as a location to expand its presence in Europe, which it claimed is "at the forefront of the global decarbonisation movement."

"Our Dublin office provides us with a meaningful foothold in this important market and will be supported by a strong team of professionals with decades of experience investing in the industrial sector in Europe and with established networks across the industry," said managing partner Troy Thacker.

Ara invests in businesses that have the potential to achieve significant reductions in carbon emissions. Its focus is on the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors. Its portfolio includes Polar Sapphire, Priority Power, Aksiom Services Group and Gidara Energy.

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Oversubscribed

The opening of the Dublin office comes as Ara closed its second fund, which it said was significantly oversubscribed, easily exceeding its $650 million initial target.

Ara Fund II 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, the firm said.

Ara was founded in Houston in 2017. It also has an office in Boston.