San Francisco, California, USA – July 11, 2023 – ERA Partners LLC (“ERA” or the “Firm”), announces the final close for its real assets fund ERA Infra Fund (the “Fund”). ERA is a private investment firm with a distinctive approach to scaling growth in pre-institutional operating businesses that provide essential services in the North American lower middle market. ERA raised total capital commitments of more than $475 million for the Fund and related co-investment vehicles. This brings the Firm’s total assets under management to over $600 million, inclusive of ERA Cold Storage Fund LP which was closed in October 2020 at its hard cap.

ERA was launched in 2018 by Managing Partners and Co-Founders Matt Carbone, Ryan Barnes, and Ed Leung. The co-founders have been investing together in these types of businesses since 2007. The Firm focuses on partnership with pre-institutional, often family-owned, infrastructure operating businesses that are asset rich. Today, ERA has a team of eleven investment professionals and functional executives in addition to a strategic advisory council with deep industry experience.

Matt Carbone, ERA Managing Partner, said “In our view, our investing strategy is well-positioned irrespective of market cycles. We believe ERA’s approach to partnering with and empowering our portfolio companies to thoughtfully scale operations is key to achieving our objective of building focused and sustainable growth in our companies.”

The Fund attracted significant interest from a diverse group of blue-chip institutional investors including public pension plans, insurance companies, endowments and foundations, single and multi-family offices, and other institutional investors deeply experienced in partnering with infrastructure managers. ERA worked closely with Campbell Lutyens, a global private capital advisor, to support the fundraising process and to attract a high-quality investor base. In addition, ERA engaged Latham & Watkins LLP as legal counsel for the Fund.

“It is an honor to have received such solid support from a respected group of limited partners who believe in our unique strategy” said Ed Leung, ERA Managing Partner and Responsible Investing Officer. “Their capital commitments validate our differentiated approach to value creation and is a testament to our team’s ability to unearth investment opportunities with compelling return profiles.”

The Fund has invested approximately 50% of its capital commitments across four investments as of the date of this publication in the essential industries of cold storage, renewable natural gas, fiber optic infrastructure, and aerial firefighting. For more information on ERA’s portfolio companies, please visit www.erapartners.com.

“We are excited about the prospects of the Fund and the opportunities it presents to partner with and institutionalize outstanding companies” said Ryan Barnes, ERA Managing Partner. “I am proud of our team and our portfolio companies as we mark this important milestone for the Firm. We look forward to delivering on the trust and confidence our investors have placed in us.”

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The information presented in this press release is the opinion of ERA and does not reflect the view of any other person or entity. The information provided is believed to be from reliable sources but no liability is accepted for any inaccuracies. This is for information purposes and should not be construed as an investment recommendation. Past performance is no guarantee of future performance. ERA is an investment adviser registered with the U.S. Securities and Exchange Commission.

AIMPERA Capital Partners rebranded to ERA Partners in October 2024 to better reflect our firm’s identity, investment focus, and value-creation process. References to prior names in the original press release have been updated to current names.