The Arab Energy Fund and Stonepeak have formed a $1 billion partnership to invest in Middle East energy infrastructure, while Carlyle has launched Revera Energy, a clean infrastructure platform.
Stonepeak, Arab Fund ink $1b infrastructure deal
US infrastructure and real estate investment firm Stonepeak and The Arab Energy Fund (formerly APICORP) have entered into a $1 billion strategic partnership to invest in energy and infrastructure across the Middle East.
The partnership targets to invest in critical energy projects that seek to accelerate the development of resilient, future-ready platforms supporting regional growth and energy security, per the announcement.
The Arab Energy Fund is a multilateral financial institution focused on the MENA energy sector. With a $5.8 billion loan portfolio—20% of which is tied to ESG-linked projects—it continues to expand its direct equity and advisory services across 35 markets.
Stonepeak, on the other hand, is a New York-headquartered infrastructure investment firm with $73 billion in assets under management.
Last year, the firm announced the final close of its maiden Asia-Pacific fund—Stonepeak Asia Infrastructure Fund—at $3.3 billion. The fund seeks to invest in telecom, transportation, logistics, and energy transition.
PE major Carlyle launches energy infra platform
Private equity major Carlyle Group has launched Revera Energy, a new independent energy infrastructure platform focused on clean energy development in Australia and the UK.
Revera, backed by Carlyle Global Infrastructure, will develop, own, and operate utility-scale projects across battery storage, renewables, and green hydrogen, according to an announcement.
The platform’s portfolio includes assets carved out from Amp Energy, with more than 750MW of battery storage, 2.3GW of solar, and 1.4GW of wind projects under development across Australia’s National Energy Market.
Revera is also advancing the 1GW Cape Hardy Green Hydrogen Project in South Australia and managing 158MW of operating solar in New South Wales.
In the UK, Revera is advancing more than 1.2GW of late-stage battery storage projects designed to strengthen grid resiliency and support national decarbonization goals.
Carlyle has $435 billion of assets under management as of June 30, 2024. It announced securing the first close of its fifth Japan buyout fund in the fourth quarter of 2023.
