Infrastructure firm Stonepeak opens office in Saudi Arabia

DUBAI, May 8 (Reuters) - Independent infrastructure firm Stonepeak said on Thursday it had opened an office in Saudi Arabia, joining more companies setting up base in the Gulf country as the Kingdom invests billions of dollars to diversify its economy away from oil.

The New York-based company, which has around $73 billion in assets under management, said in a statement that senior investment professionals Steven Ciobo and Fadi Kerbaj would lead Stonepeak's team on the ground in Riyadh.

"Saudi Arabia is one of the world's most exciting areas for infrastructure investment and innovation ... and we look forward to ramping up our service as a valuable partner for stakeholders in the Kingdom," CEO and Chairman Mike Dorrell said.

Stonepeak, which invests in sectors including digital infrastructure, transport and logistics, already has an office in the Middle East in the UAE's capital, Abu Dhabi.


(Reporting by Federico Maccioni; Editing by Rashmi Aich)

((Federico.maccioni@thomsonreuters.com; +971 527370852;))

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.