Dublin-based Ara Partners raise more than $800m for inaugural fund
The
investment
fund, whose European headquarters is in
Dublin
, is focused on the decarbonisation of the industrial economy and has already invested in Irish recycling firm Natural World Products.
The firm said it views the Irish market as 'highly attractive' and it is examining investment opportunities 'locally as well as across Europe' highlighting the 'abundance' of Irish businesses working in the carbon transition sector.
The fund is part of the firm's Ara Infrastructure strategy, which is run by co-heads of infrastructure, Teresa O'Flynn, who is based in Dublin, alongside George Yong. Since launching the infrastructure strategy in 2022, Ara Infrastructure has completed three investments – a fourth investment is expected shortly, the company said.
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Ms O'Flynn, who was a founding member of
BlackRock
's Global Renewable Power Infrastructure business, is guiding the company's infrastructure strategy. 'We are incredibly proud of this milestone and grateful for the robust support from our investors,' she said.
'This fund enables us to pursue a generational investment opportunity across Europe and North America, characterised by increasing energy and industrial demand, a move towards decentralised energy systems, as well as the need to ensure an economic path toward a lower-carbon economy,'
The Dublin-based partner said the focus is on 'building high-value decarbonisation assets that future-proof businesses for the modern economy and support the energy transition.
'We knew that having boots on the ground would be key to accessing an attractive and wide-ranging investment opportunity set across Europe,' she said of their presence in Ireland.
'Dublin has proven to be an ideal base for our growing team of investment professionals, which serves as a key hub for sourcing and executing deals across the region.'
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Irish Independent
2 hours ago
- Irish Independent
Trump says he thinks Putin is ready to make deal for peace in Ukraine
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The Journal
4 hours ago
- The Journal
What's the beef between this previous and current presidential hopeful?
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To date, Catherine Connolly is the only candidate formally in the race following the unexpected withdrawal today of Fine Gael's Mairead McGuinness. Readers like you are keeping these stories free for everyone... Our Explainer articles bring context and explanations in plain language to help make sense of complex issues. We're asking readers like you to support us so we can continue to provide helpful context to everyone, regardless of their ability to pay. Learn More Support The Journal
Irish Times
5 hours ago
- Irish Times
Gareth Sheridan plays down business partner's Moldovan airline controversy as ‘not an issue' for election
Presidential hopeful Gareth Sheridan has said he knows 'very little' about his business partner's involvement in a controversial airline privatisation deal in Moldova . Speaking at the formal launch of his presidential campaign in Dublin, Mr Sheridan said he had not spoken to his business partner Serguei Melnik, who has succeeded him as chief executive of his company Nutriband for the duration of the campaign, about his involvement in the Air Moldova deal and possible links to Russian oligarchs. Mr Sheridan said he knew 'very little about that situation' and added that it was 'not an issue' in terms of the focus of his campaign, housing. The 35-year-old said he was confident he had a proposer and seconder to secure nominations for Laois and Tipperary county councils and declined to name four others he also believed he could secure nominations from. READ MORE Mr Sheridan, who would be the youngest ever presidential candidate if he secures a nomination, has budgeted for a campaign fund of up to €500,000, although he hoped to do it for less from his own funds. He said his net worth was $16 million (€13.7m) based on the current value of his shares in his business Nutriband and he has $500,000 (€429,627) in cash holdings. His campaign is focused on housing, he added, and he wants to 'make Ireland home again', a phrase he denied had Trumpian connotations. He pointed to Article 45.2.1 of the Constitution which obliges the State to direct policy so that citizens 'may through their occupations find the means of making reasonable provision for their domestic needs'. Mr Sheridan said people should be able to afford to buy a home in Ireland, which they are not able to do. Gareth Sheridan with his wife Heidi after the briefing at the Shelbourne hotel. Photograph: Alan Betson/ The Irish Times Launching his campaign at the Shelbourne Hotel, with his wife Heidi in attendance, Mr Sheridan started his address by drawing attention to media coverage of him in the last number of days, which he described as 'a little off'. He addressed his relationship with Sean Gallagher , who twice put himself forward unsuccessfully in presidential elections, and was executive chairman of Nutriband for four years to 2022. [ Mairead McGuinness drops out of presidential race due to health reasons Opens in new window ] Mr Sheridan said that after the company was listed on the Nasdaq in the US, it was decided to replace Mr Gallagher with Serguei Melnik, who had more experience with capital markets. 'We asked [Mr Gallagher] to voluntarily step aside on the same remuneration,' he said. 'Communication broke down at the next shareholder meeting' and Mr Melnik was voted in to replace Mr Gallagher. Mr Gallagher then resigned from the Nutriband board. 'I wish Sean the best in whatever he's working on,' Mr Sheridan said. In 2018, Mr Sheridan and his business associate, Mr Melnik, were fined $25,000 (€21,400) each by the US Securities and Exchange Commission (SEC), arising from the issuing of misleading statements by Nutriband in 2017 and 2018, when the two men were the company's only full-time employees. Nutribrand chief executive Gareth Sheridan with chairman Sergei Melnik. Photograph: Instagram Six statements made during the period mischaracterised the company's products as not requiring regulatory approval in the US, the SEC said. Asked about the fines, Mr Sheridan said they had received advice from two attorneys and a dermatologist who had independently advised that FDA approval was not needed. He said in the business he was in, 'you have to rely on people who are experts in that space. I'm not for a second claiming that I'm an FDA attorney'. Mr Sheridan was asked for a response to a report that his business partner Mr Melnik, the US-resident Moldovan lawyer who is chairman and chief executive of Nutriband, was a shareholder in a company that bought Air Moldova in 2018 in a deal that became the subject of controversy in Moldova, leading to an inquiry by a parliamentary committee. 'It's not an issue in terms of trying to put a focus on the housing crisis in Ireland,' he said. Asked if he owned a home or invested in the private rental market he said: 'We have our house in Utah and we have a rental house in Utah. We rent in Dublin.' He added: 'There isn't a housing crisis in Salt Lake City Utah, there is in Dublin.' He drives a 'used 2021 Mercedes hybrid'.
