Ara Partners, a private equity and infrastructure investment firm specializing in industrial decarbonization, has closed on more than $3 billion of new capital commitments, concluding fundraising for its Ara Fund III.
Ara Fund III was significantly oversubscribed at an increased hard cap, exceeding its $2 billion initial target. It was backed by the firm’s existing investor base and a diverse set of new institutional investors consisting of pension funds, insurance companies, sovereign wealth funds, endowments and foundations from North America, Europe and Asia Pacific.
The fundraise consisted of $2.8 billion of limited partner commitments, alongside dedicated limited partner co-investment vehicles.
“We are grateful for the extraordinary interest in Fund III demonstrated by Ara's increasingly global, blue-chip investor base,” said Charles Cherington, managing partner at Ara. “The strong support from new and existing investors is a testament to their conf