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Independent infrastructure investor Stonepeak has launched a Riyadh office after receiving its non-securities business activities licence from the Saudi Ministry of Investment.
The firm, which was founded in New York in 2011, and now has $73 billion of assets under management, will be led by former Australian politician Steven Ciobo and Fadi Kerbaj.
Ciobo is a former tourism, trade and investment minister for Australia, until 2018. He joined Stonepeak in 2020 and has served as managing director and head of global affairs for Stonepeak.
Kerbaj has been based at Stonepeak’s office in Dubai as a principal investor. He was previously head of Saudi Arabia for Tribe Infrastructure, and invested in the region at Australian multinational banking and financial services group Macquarie.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
