Stonepeak has opened a new office in Abu Dhabi, United Arab Emirates (UAE).
Takeaway Points
- Stonepeak opens a new office in Abu Dhabi.
- The firm manages approximately $71.2 billion in assets on behalf of its partners.
- On Sept. 5, 2024, Stonepeak acquired a 1.1 million square foot logistics portfolio in Fort Worth, Texas.
Where did Stonepeak open a new office?
Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, on Wednesday announced the opening of an office in Abu Dhabi, United Arab Emirates (UAE), having received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to arrange and advise on investments in the UAE. The firm plans to utilize its local presence to expand its network for potential investment opportunities, better serve its partners in the region, and continue to build key relationships.
Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, said: “We are excited to establish our presence in Abu Dhabi, and specifically within ADGM, an increasingly important hub for the global investment management industry. This expansion reflects our deep commitment to Abu Dhabi and the broader Middle East, enabling us to work more closely with our partners and offer better access to Stonepeak’s global infrastructure platform.”
Arvind Ramamurthy, Chief of Market Development at ADGM, said: “ADGM is pleased to welcome Stonepeak to one of the world’s largest international financial centres and the region’s fastest-growing asset management hub. With robust regulations for alternative investment entities, a comprehensive ecosystem for asset management and a vibrant community based in the heart of the ‘Capital of Capital,’ Abu Dhabi, ADGM provides an ideal environment for Stonepeak’s regional expansion. We look forward to the unique offerings they will bring to their partners and investors in Abu Dhabi and beyond.”
Stonepeak has employed more than 250 people in New York, Houston, London, Hong Kong, Seoul, Singapore, Sydney, and Tokyo. The firm manages approximately $71.2 billion in assets on behalf of its partners, the company said.
Stonepeak Acquires 1.1 Million Square Foot Logistics Portfolio in Fort Worth, Texas
On Sept. 5, 2024, Stonepeak said that they have acquired two logistics assets totaling 1.1 million square feet in Fort Worth, Texas, from institutional investors advised by J.P. Morgan Asset Management.
Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak, said, “We are excited to add these assets to our growing portfolio. We believe that high-quality real estate adjacent to transport infrastructure will continue to outperform given its mission-critical role in local and national supply chains.”
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $71.2 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 communications, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Singapore, Sydney, and Abu Dhabi.
