Riyadh - Sharikat Mubasher: Stonepeak, the world’s largest independent infrastructure firm and leading US infrastructure investor, announced the establishment of a new office in Riyadh to deepen its ongoing strategic commitment to the Middle East.

This move came after Stonepeak secured the license from the Saudi Ministry of Investment (MISA) to operate non-securities business activities in the Kingdom, the company announced in a press release today.

The Riyadh office, which will be led by Steven Ciobo and Fadi Kerbaj, will accelerate Stonepeak's mission to deepen strategic partnerships and identify compelling investment opportunities across the infrastructure landscape in the region.

Mike Dorrell, CEO, Chairman, and Co-Founder of Stonepeak, 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.”

He emphasized the company’s leading position in creating and building infrastructure businesses in fast-growing economies, while ramping up its service as a valuable partner for stakeholders in Saudi Arabia.

Meanwhile, Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, commented: “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.”

Stonepeak manages around $73 billion in assets from regulated centers on behalf of its partners. It employs more than 300 people in New York, Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi.