Debevoise & Plimpton LLP has advised Ara Partners, a private equity firm specializing in industrial decarbonization investments, in the formation of Ara Fund II with approximately $1.1 billion in capital commitments. The fund, which will continue Ara's strategy of investing in the ongoing decarbonization of the industrial economy, was significantly oversubscribed, exceeding its $650 million initial target and increasing its hard cap. For more information, please view the press release.

Ara invests in the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and food and agriculture sectors, seeking to build businesses that are focused on sustainability and ESG principles.

The Debevoise team was led by investment management partner Alisa Waxman and included associates Meir Cohen, Alexander Furman and Debra Slutsky. International counsel Christopher Dortschy and associate Mathieu Voos advised on Luxembourg matters. Tax advice was provided by partner Rafael Kariyev and associate Molly Klinghoffer.