Future Fund Oman (FFO), an Oman Investment Authority (OIA) fund, and pan-Asia alternative asset manager Templewater have partnered to drive investments in the energy transition and advanced manufacturing sectors in the sultanate.
The Energy Transition Fund, the first of its kind in Oman, will have an initial capital base of $200 million, anchored by a $100 million commitment from FFO and matched by a $100-million commitment from Templewater.
Hong Kong-based Templewater will manage the fund, which aims to mobilise further investment into the energy transition sector and co-develop projects aligned with Oman’s Net Zero targets and industrial development goals.
It will focus on sectors including renewable energy and energy storage, clean molecules, e-fuels, smart mobility, and green data centres.
The partnership, which will work to attract foreign direct investment, global technology, and expertise into key sectors of the Omani economy, will also be able to leverage its extended network to support larger opportunities, the partners said in a statement.
FFO is a 2 billion Omani rial ($5.2 billion) vehicle established to finance local projects and investors to drive growth in the Omani economy.
Templewater focuses on mid-market private equity buyouts and growth equity investments in the decarbonisation and energy transition sectors. Its investments include Tamarind Health, an oncology-focused specialist medical group headquartered in Singapore, and SC Lowy, a global banking and asset management group.
