On August 27, 2012, Fajr Capital announced that it had acquired Dubai International Capital’s stake in the MENA Infrastructure Fund for an undisclosed sum.
On August 27, 2012, Fajr Capital announced that it had acquired Dubai International Capital’s stake in the MENA Infrastructure Fund for an undisclosed sum. Fajr Capital joins two other general partners and co-sponsors of the fund, HSBC Bank Middle East and Waha Capital, based in Abu Dhabi, and will be a limited partner with other regional and international investors. Fajr Capital is an Islamic investment fund 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 a Dubai-based asset manager, with approximately $300 million in assets, established to invest in infrastructure and energy projects in the Middle East and North Africa. The Fund currently has three investments: Alexandria International Container Terminals, which runs terminals in Egypt’s two main commercial ports; United Power Company, which runs a 270 megawatt power plant in Manah, Oman; and Qurayya IPP, a 3,927 megawatt power plant under construction in Qurayyah, Saudi Arabia.
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