Latest news with #Kimmeridge
The National
14-05-2025
- Business
- The National
US investment managers Fortress and Kimmeridge open offices in Abu Dhabi in push for deals
Global investment manager Fortress, backed by the UAE's Mubadala Investment Company, and Kimmeridge, a New York-based alternative asset manager focused on the energy sector, also with ties to Mubadala, will open offices in Abu Dhabi's financial free zone to explore regional deals. With the move, the two US companies will join a stream of international firms tapping into the Middle East's growing investment scene. US-based Fortress, which has $50 billion in assets under management, has received permission from the Financial Services Regulatory Authority at ADGM to undertake activities, it said on Wednesday. The company said it will use its base in Abu Dhabi's financial centre to expand its local footprint, deepen relationships with regional investors and accelerate co-investment across private credit, real estate and asset-based strategies. 'Our decision to establish an office in Abu Dhabi is a strategic step that reflects our conviction in the Gulf as a long-term investment and capital partner,' said Drew McKnight, co-chief executive and managing partner at Fortress. 'The region is increasingly influential in shaping the future of global private markets.' In 2023, Mubadala, Abu Dhabi's strategic investment arm, announced the acquisition of a majority stake in Fortress. The deal was completed in May last year. Fortress is the latest addition to a growing list of asset managers, insurers, financial institutions and investment houses that have set up office in Abu Dhabi, as the UAE capital continues to boosts the financial sector to support its economic diversification plans. ADGM, established in 2015, is one of the world's fastest-growing financial districts. It has recorded rapid growth as Abu Dhabi focuses on attracting more international companies and investors. Some of the major names within the asset management sector that have been granted financial services licences include BlackRock, Stonepeak, AXA IM, PGIM, Eiffel Investment ME, GQG Partners, SS & C Financial Services and Morgan Stanley. ADGM has announced new measures to attract more companies to the financial centre. Last year, the free zone said it planned to cut commercial registration licence fees for certain categories while raising them for others, as part of its transitional strategy after the financial district expanded to include Reem Island under its jurisdiction. New York-based BlackRock, the world's top asset manager with nearly $11.5 trillion in assets under management, in November received a commercial licence to operate in ADGM. In September, Stonepeak, a US-based alternative investment company, with $71.2 billion of assets under management, received regulatory approval to set up base at ADGM, to arrange and advise on investment opportunities in the UAE. Also in September, ADGM welcomed its first trillion-dollar asset managers: PGIM, the global asset management business of the New York Stock Exchange-listed Prudential Financial, and Chicago investment firm Nuveen, with both aiming to expand their operations and client bases in the Middle East. Last month, Fortress Investment Group and Mubadala entered into a partnership to invest $1 billion from Mubadala in a range of Fortress's existing private credit, asset-based lending and real estate strategies alongside Fortress's existing pools of capital. The ADGM office will serve as a 'key hub' for executing on that mandate and exploring new opportunities across the region, Fortress said. 'Being on the ground in the Gulf gives us a direct connection to some of the world's most forward-looking institutional partners and enables us to collaborate with greater scale and speed,' said Joshua Pack, co-chief executive and managing partner at Fortress. Founded in 1998, Fortress invests on behalf of approximately 2,000 institutional clients and private investors across credit and real estate, private equity and permanent capital investment strategies. Meanwhile, Kimmeridge, which also has offices in Denver and London, received a category 4 licence from ADGM's FSRA for its Abu Dhabi office to advise and arrange transactions and investments, it said on Wednesday. The new ADGM office strengthens Kimmeridge's role as a 'gateway for energy investments' between the US, the UAE and the wider region, the company said. The move follows Mubadala Energy acquiring a stake in a company backed by Kimmeridge last month in a bid to enter the US upstream gas market. The energy unit of the UAE capital's sovereign wealth fund acquired a 24.1 per cent interest in Kimmeridge's SoTex HoldCo, giving it access to two portfolio companies in two US states. As part of opening the new office in Abu Dhabi, Mansoor Al Hamed, managing director and chief executive of Mubadala Energy, and Benjamin Dell, managing partner of Kimmeridge, signed a preliminary agreement for further collaboration on natural gas and liquefied natural gas investments. The initial pact would provide the framework for 'future collaboration', he said. Kimmeridge's team in the Middle East will be headed by Faycal Benjelloun, managing director and head of Middle East, who joins from Mubadala Capital.
Associated Press
14-05-2025
- Business
- Associated Press
Kimmeridge Expands Global Footprint with Launch of Abu Dhabi Office and Signing of MOU with Mubadala Energy
Office underscores Kimmeridge's commitment to the Middle East, strengthening the firm's role as a gateway for global energy investments at the front end of the cost curve The announcement follows recent agreement with Mubadala Energy to acquire a minority stake in Kimmeridge's SoTex HoldCo LLC, Mubadala Energy's first major energy investment in the US MOU paves the way for further collaboration to identify and pursue natural gas and LNG investments Fayçal Benjelloun appointed as Managing Director and Senior Executive Officer ABU DHABI, UAE and NEW YORK, May 14, 2025 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector, headquartered in New York, with offices in Denver and London, today announced its strategic expansion into the Middle East with the launch of an office in ADGM, the international financial center of Abu Dhabi the UAE's capital. The opening underscores Kimmeridge's commitment to the Middle East and strengthens the firm's role as a gateway for energy investments between the US, the UAE and the wider region. The ADGM office builds on a legacy of relationships with regional institutions and partners, and is also expected to host investment teams as Kimmeridge explores opportunities in the Middle East and Asia. Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments. The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex HoldCo LLC, to Mubadala Energy – marking the platform's first major investment in the US energy market. Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said: 'The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalize on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM.' Commenting about the MOU, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: 'We are pleased to sign this MOU which provides the framework for future collaboration following our recent U.S. partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities.' Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Mr. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations. Fayçal Benjelloun added: 'Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets.' Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 license from the Financial Services Regulatory Authority (FSRA) of ADGM for its branch office in Abu Dhabi to advise and arrange transactions and investments. Arvind Ramamurthy, Chief of Market Development at ADGM, said: 'ADGM is pleased to welcome Kimmeridge 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 Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region.' About Kimmeridge Founded in 2012, with its principal office in New York, USA, as well as Denver, London and Abu Dhabi, Kimmeridge is an alternative asset manager focused exclusively on the energy sector. It is a registered investment adviser under the regulation and supervision of the Securities and Exchange Commission (the 'SEC') in the US since 2012. The firm is differentiated by its deep technical knowledge, proprietary research and data gathering. Kimmeridge is committed to its core values of integrity, innovation and teamwork and aims to deliver best-in-class performance. Kimmeridge's activities center on the oil and gas space, associated infrastructure and low carbon solutions. The firm invests in public and private companies, including through direct ownership of assets, and employs an in-house operations team in Denver through its wholly owned subsidiary, Kimmeridge Operations, LLC ('Kimmeridge Operations'). Since inception, Kimmeridge has raised over $6 billion in institutional investor commitments. Further information: Press contacts: Kimmeridge US Daniel Yunger / Hallie Wolff / Emma Cloyd [email protected] Kimmeridge Middle East Gregor Riemann / Tina Khoury / Ali Kurdieh [email protected] View original content: SOURCE Kimmeridge
Zawya
14-05-2025
- Business
- Zawya
Mubadala-backed Fortress and Kimmeridge set up Abu Dhabi outposts
The US-based Fortress Investment Group and alternative asset manager Kimmeridge have announced plans to set up offices in Abu Dhabi, the latest in a series of high-profile names setting up outposts in the region to attract clients from across the region. Fortress, which is backed by Abu Dhabi sovereign investor Mubadala, has announced plans to open a new office in the Abu Dhabi Global Market (ADGM). The opening follows the April 2025 announcement of a $1 billion partnership between Mubadala Investment Company and Fortress, focused on credit and special situations co-investment opportunities. Drew McKnight, Co-Chief Executive Officer and Managing Partner at Fortress, said the Abu Dhabi hub was part of their plan of looking at the Gulf region as a long-term investment and capital partner. The opening of the Kimmeridge office in Abu Dhabi also follows on from Mubadala Energy's deal with the energy-focused alternative asset manager in April to acquire a 24.10% interest in Kimmeridge's US upstream and LNG player SoTex. (Writing by Bindu Rai, editing by Seban Scaria)
Zawya
14-05-2025
- Business
- Zawya
Kimmeridge opens in Abu Dhabi, partners with Mubadala
UAE - Kimmeridge, an alternative asset manager focusing on the energy sector, has opened an office in Abu Dhabi's ADGM, the international financial center. This move strengthens Kimmeridge's role as a gateway for energy investments between the US, UAE, and the region. The office will build on relationships with regional institutions and partners and host investment teams as Kimmeridge explores opportunities in the Middle East and Asia. Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments. The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex, to Mubadala Energy – marking the platform's first major investment in the US energy market. Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said: 'The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalise on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM.' Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: 'We are pleased to sign this MOU which provides the framework for future collaboration following our recent U.S. partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities.' Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations. Fayçal Benjelloun added: 'Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets.' Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 license from the Financial Services Regulatory Authority (FSRA) of ADGM for its branch office in Abu Dhabi to advise and arrange transactions and investments. Arvind Ramamurthy, Chief of Market Development at ADGM, said: 'ADGM is pleased to welcome Kimmeridge 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 Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region.'
Trade Arabia
14-05-2025
- Business
- Trade Arabia
Kimmeridge opens in Abu Dhabi, partners with Mubadala
Kimmeridge, an alternative asset manager focusing on the energy sector, has opened an office in Abu Dhabi's ADGM, the international financial center. This move strengthens Kimmeridge's role as a gateway for energy investments between the US, UAE, and the region. The office will build on relationships with regional institutions and partners and host investment teams as Kimmeridge explores opportunities in the Middle East and Asia. Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments. The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex, to Mubadala Energy – marking the platform's first major investment in the US energy market. Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said: 'The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalise on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM.' Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: 'We are pleased to sign this MOU which provides the framework for future collaboration following our recent U.S. partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities.' Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations. Fayçal Benjelloun added: 'Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets.' Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 license from the Financial Services Regulatory Authority (FSRA) of ADGM for its branch office in Abu Dhabi to advise and arrange transactions and investments. Arvind Ramamurthy, Chief of Market Development at ADGM, said: 'ADGM is pleased to welcome Kimmeridge 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 Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region.'
