Stonepeak, Arab Energy Fund Unite for $1B Energy Infra Deal

Key Takeaways

Sector: Energy Infrastructure & Renewables.
Geography: Saudi Arabia.

Analysis

The Arab Energy Fund (formerly APICORP), a leading multilateral impact financial institution focused on the MENA energy sector, and Stonepeak, a prominent U.S.-based infrastructure investment firm, have announced a strategic partnership to invest $1 billion in energy infrastructure across the Middle East.

This collaboration aims to support the development of critical energy projects, enhancing energy security and promoting economic growth in the region. The partnership will focus on businesses within the energy sector, facilitating the construction and advancement of essential infrastructure.

Khalid Ali Al-Ruwaigh, Chief Executive Officer of The Arab Energy Fund, stated, "This strategic alliance marks a defining step in our mission to mobilize 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, Chief Investment Officer of The Arab Energy Fund, added, "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, commented, "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 Managing Director and Head of Asia and the Middle East at Stonepeak, noted, "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."

The Arab Energy Fund is a sovereign-backed financial institution committed to accelerating energy transition and security across the Middle East and North Africa. Founded in 1974, it provides loans, equity, and advisory solutions for sustainable energy projects, with a strong focus on ESG. The Fund is among the most highly rated energy financiers in the region, supporting both public and private sectors in over 35 countries.

Stonepeak is a global alternative investment firm with over $73 billion in assets under management, specializing in infrastructure and real assets. With expertise in sectors including energy, transport, digital infrastructure, and real estate, Stonepeak supports long-term growth in essential industries through private equity and credit strategies. Headquartered in New York, it maintains offices across Asia, the Middle East, and major global financial hubs.