World’s largest independent infrastructure firm, with approximately $73 billion of assets under management, deepens commitment to Middle East with senior investment professionals on the ground

Kingdom of Saudi Arabia presence led by the Honorable Steven Ciobo and Fadi Kerbaj

Stonepeak, the world’s largest independent infrastructure firm and leading US infrastructure investor, today announced that it is establishing its presence in the Kingdom of Saudi Arabia and expanding its commitment to the Middle East with senior investment professionals, the Honorable Steven Ciobo and Fadi Kerbaj, leading Stonepeak’s engagement on the ground in Riyadh.

These appointments build on Stonepeak’s ongoing strategic commitment to the Middle East, including the establishment of the firm’s office in Riyadh and receipt of its Ministry of Investment license to operate non-securities business activities in Saudi Arabia. Stonepeak remains focused on deepening strategic partnerships and identifying compelling investment opportunities across the infrastructure landscape in the region.

Mike Dorrell, Stonepeak CEO, Chairman, and Co-Founder, said: “Saudi Arabia is one of the world’s most exciting areas for infrastructure investment and innovation with a unique combination of strong, ambitious, well-resourced leadership and a young, educated, and fast growing population. Stonepeak is market leading in creating and building infrastructure businesses in fast growing economies, and we look forward to ramping up our service as a valuable partner for stakeholders in the Kingdom.”

Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, added: “We are excited to deepen our commitment to the Kingdom of Saudi Arabia as we add senior representatives in Riyadh. This is a critical next step in our Middle East strategy, allowing us to support the realization of Vision 2030 on the ground. We look forward to creating and building infrastructure businesses in the Kingdom, combining Stonepeak’s global infrastructure sector expertise with our regional insights and capabilities.”

Steven Ciobo joined Stonepeak in 2020 after serving in the Australian Parliament for nearly two decades and holding numerous senior roles as a Cabinet Minister, including as Minister for Trade, Tourism, and Investment, and as Minister for Defence Industry. In these roles, Steven drove Australia’s trade and investment agenda, securing deals on the Trans-Pacific Partnership, and with Singapore, Indonesia, Hong Kong, the United Kingdom as well as engagement with the European Union and the Gulf Cooperation Council. With his extensive senior network and global stakeholder relationships, Steven will be well positioned to focus on the origination of infrastructure investment opportunities and relationship development in the region.

Fadi Kerbaj is a senior leader on Stonepeak’s investment team bringing 15 years of extensive infrastructure investment experience and a deep regional network to the firm having spent the majority of his career in infrastructure investment and advisory roles in the Middle East. Most recently, Fadi was the Head of Saudi Arabia for Tribe Infrastructure, where he led a broad range of strategic transactions across district cooling, water, waste, and social infrastructure, and prior to Tribe he invested in similar sectors across the region through his role at Macquarie.

In addition to its presence in the Kingdom, Stonepeak employs more than 300 people in New York, Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. The firm manages approximately $73 billion in assets from regulated centers on behalf of its partners.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.

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