The Arab Energy Fund and real assets manager Stonepeak have entered a $1bn partnership to invest in energy infrastructure across the Middle East.
Khalid Ali Al-Ruwaigh, CEO of The Arab Energy Fund, said: “This strategic alliance marks a defining step in our mission to mobilise global capital into the region’s evolving energy landscape.
“With Stonepeak as a partner, we aim to accelerate the development of resilient, future-ready energy platforms that contribute to economic growth and energy security across the Middle East.”
Maheur Mourali, CIO of The Arab Energy Fund, said: “This partnership reinforces our long-term strategy to back high-quality energy assets in collaboration with experienced global investors.
“Stonepeak brings world-class expertise and alignment with our vision to deliver both impact and value through disciplined investment in essential infrastructure.”
Mike Dorrell, CEO, chairman, and co-founder of Stonepeak, said: “The Middle East has made energy diversification a key priority, with Saudi Arabia and other nations throughout the region setting ambitious targets.
“We are thrilled to be partnering with The Arab Energy Fund to build and create businesses in the region focused on this mission-critical sector.”
Hajir Naghdy, senior MD and head of Asia and the Middle East at Stonepeak, said: “This partnership will support the continued growth and evolution of the region’s energy sector.
“With our local presence in the region and deep expertise in the global energy sector, Stonepeak is well-positioned to contribute meaningfully to this exciting partnership.”
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