I Squared Capital and The Arab Energy Fund Sign Memorandum of Understanding to Invest in Sustainable Energy Infrastructure Through a New Middle East Infrastructure Strategy

MIAMI--(BUSINESS WIRE)--I Squared Capital, a leading independent global infrastructure investment manager, and The Arab Energy Fund (TAEF), formerly known as APICORP, a leading multilateral impact financial institution focused on the MENA energy sector, have signed a non-binding Memorandum of Understanding (MoU) to invest in a dedicated infrastructure investment strategy focused on the Middle East and North Africa (MENA) region.

The strategy aims to enhance connectivity across regional and global markets, investing in key infrastructure sectors across the region with the goal of expanding energy infrastructure and supporting regional decarbonization efforts.

This partnership will leverage I Squared’s global investment platform and extensive expertise in infrastructure investments. The firm's investment philosophy focuses on building businesses through direct engagement with management teams, applying a hands-on approach that drives both operational and commercial success. The collaboration will also deliver enhanced operational leverage, control, and transparency for these projects, while also creating opportunities for like-minded private capital partners from around the world to invest in the region.

Commenting on the agreement, Sadek Wahba, Chairman and Managing Partner of I Squared Capital, said:

“This collaboration with TAEF reflects our shared commitment to advancing sustainable development and accelerating the region’s transition through transformative infrastructure investments. It also marks a significant milestone in I Squared’s strategic expansion in the Middle East, reinforcing our long-term conviction in the region’s potential as a global destination for infrastructure innovation and capital.”

Commenting on the agreement, Khalid Ali Al-Ruwaigh, Chief Executive Officer of TAEF, said:

“We look forward to working closely with I Squared Capital as this MOU exemplifies our commitment to fostering impactful investments that drive energy security and sustainability across the MENA region and in our member countries. By anchoring this infrastructure fund, we aim to support energy infrastructure and promote economic diversification — while leveraging our shared deep industry expertise and regional insights.”

Today’s non-binding MoU is subject to satisfying certain necessary conditions including obtaining all necessary regulatory and internal approvals and fulfilling specified milestones.

About I Squared Capital

I Squared Capital is a leading global infrastructure investor managing $45 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney, and Taipei. Learn more at www.isquaredcapital.com.

About TAEF

The Arab Energy Fund is a multilateral impact financial institution focused on the MENA energy sector established in 1974 by ten Arab oil-exporting countries. The Arab Energy Fund’s mission is to enable a secure and sustainable energy future for the region through a comprehensive range of financing and direct equity solutions and expert advisory services across the entire energy value chain to leading public and private sector business partners in 35 countries. The Arab Energy Fund applies best-practice ESG principles across all operations, with environmental and socially linked projects comprising 20% of its USD 5.3bn loan portfolio. The Arab Energy Fund is the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA’ by Fitch and ‘AA-’ by S&P.

View The Arab Energy Fund’s ESG Policy Framework here.
For more information about The Arab Energy Fund, please visit: www.taef.com