Ashurst acted for Fajr Capital Limited on its acquisition of Dubai International Capital’s stake in the MENA Infrastructure Fund, making it a co-sponsor in the GP alongside HSBC Bank Middle East and Abu Dhabi-based Waha Capital, as well as an LP alongside other regional and international investors.
The MENA Infrastructure Fund is a US$ 300m Dubai-based specialist asset manager established in 2007 to invest in infrastructure and energy projects in the Middle East and North Africa. Its three investments to date are Alexandria International Container Terminals (which runs terminals in Egypt’s two main commercial ports, Alexandria and Dekheila, in partnership with international operator Hutchinson Port Holdings), United Power Company (which runs a 270 megawatt power plant in Manah, Oman) and Qurayyah IPP (a 3,927 megawatt power plant under construction in Qurayyah, Saudi Arabia).
Ashurst corporate partner Alastair Holland led the team which included energy, transport and infrastructure counsel Mhairi Main Garcia and corporate senior associate Chris Young. London investment funds partner Nick Goddard and associate Felicia Efta assisted. Vinson & Elkins acted for the seller.
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