The $117bn (€98.4bn) investment arm of insurer Liberty Mutual is investing in Ara Partners’ energy and infrastructure strategies as part of a new patnership between the two firms.
Liberty Mutual Investments (LMI) and Ara Partners have agreed to a partnership, which allows the two firms to work together on investments that align with both of their business goals.
Ara Partners and LMI will work together on a number of existing and future projects, including the JET fuel retail network in Germany and Austria, the residential fibre provider Centric Fiber and power plants in the Northeast US. The firms will collaborate on ethanol production facilities that feature carbon capture technology and will also anchor Ara debut enegy fund, Ara Energy Fund I.
Financial details were not disclosed.
Charley Poole, head of energy and infrastructure at LMI, said: “We believe Ara Partners is well positioned to continue capitalising on opportunities amidst rising global energy demand.
“LMI is proud to join Ara Partners as a long-term, strategic partner as they pursue transformative outcomes across the energy and infrastructure sectors to meet this demand.”
George Yong, partner, co-head of Ara Infrastructure, said: “We are proud to welcome LMI to the Ara family. By combining Ara’s builder skillset with LMI’s broad reach across North America’s industrial, real estate, and infrastructure ecosystem, we see a significant opportunity to unlock value and accelerate growth.”
Shameek Konar, partner, head of Ara Energy, said: “LMI’s extensive experience and sophistication in the energy sectors in which we invest and operate make them an ideal long-term strategic partner. We are truly excited to be working with them going forward.”
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