Arab Energy Fund & Stonepeak Join Forces In $1 Billion Deal To Build Energy Infrastructure Across Middle East

The Arab Energy Fund, a leading multilateral impact financial institution dedicated to supporting the energy sector in the MENA (Middle East and North Africa) region, has entered into a strategic partnership with Stonepeak, the world’s largest independent infrastructure firm and a prominent U.S.-based infrastructure investor. This new collaboration aims to jointly invest in energy infrastructure projects across the Middle East.

Khalid Ali Al-Ruwaigh, Chief Executive Officer of The Arab Energy Fund, said in a statement, “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, stated, “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.”

The partnership will focus on supporting companies within the energy sector and will play a key role in developing and expanding critical infrastructure across the region. By combining the Arab Energy Fund’s deep regional expertise with Stonepeak’s global infrastructure investment experience, the two organizations aim to accelerate sustainable energy development and drive long-term economic growth in the MENA region.

Mike Dorrell, CEO, Chairman, and Co-Founder of Stonepeak, mentioned, “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, also added, “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.”