Fajr Capital will take its place alongside the two other general partners and co-sponsors of the fund, HSBC Bank Middle East and Abu Dhabi-based Waha Capital, and will also be a limited partner with other regional and international investors.
The MENA Infrastructure Fund is a US$300m Dubai-based specialist asset manager established in 2007 to invest in infrastructure and energy projects in the Middle East and North Africa.
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The transaction is expected to strengthen Fajr Capital’s position in the MENA region by building exposure in the key markets of Egypt, the Sultanate of Oman and the Kingdom of Saudi Arabia.
Adib AlZamil, chairman of Fajr Capital, described the transaction as an important milestone for the firm: "We feel privileged to be entrusted by Dubai International Capital, HSBC and Waha Capital to contribute to the success of the MENA Infrastructure Fund.
"This investment combines several commercial advantages: high-quality infrastructure assets, a seasoned management team and the platform to launch further funds with world-class partners. It also creates social value by connecting financial services to the real economy and by supporting a vital sector in the MENA region."
Fajr Capital is backed by the Abu Dhabi Investment Council, the Alsubeaei Group, the Government of Brunei Darussalam, the HSBC Group and Khazanah Nasional. The MENA Infrastructure Fund is its second investment this year.
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