Latest news with #MikeDorrell
AU Financial Review
6 days ago
- Business
- AU Financial Review
Why our new inheritocracy is bad for the country
It's 25 years since I worked on my first Rich List, but my little ritual hasn't changed. Each year, when the new edition is published, I turn not towards the top of the list, but to the bottom. The Rich List is a living, breathing thing, and the debutants that join the list each year keep it fresh and vital, and help us understand how Australian business is changing. The stunning arrival this year of infrastructure investor Mike Dorrell, ranked seventh with a fortune of $13.9 billion is a case in point, as are the debuts of entrepreneurs from sectors such as retail, critical minerals and manufacturing.
Arabian Business
08-05-2025
- Business
- Arabian Business
US infrastructure giant Stonepeak expands Middle East footprint with Saudi Arabia office
Stonepeak, which claims to be the world's largest independent infrastructure firm and leading US infrastructure investor, announced the opening of an office in Riyadh as part of its plans to establish its presence in Saudi Arabia and expand its footprint in the Middle East. The Saudi foray follows the US company securing a license from the Saudi Ministry of Investment to operate non-securities business activities in the Kingdom. Stonepeak also named senior investment professionals Steven Ciobo and Fadi Kerbaj to lead the company's engagement on the ground in Riyadh. Stonepeak enters Saudi market The company said it remains focused on deepening strategic partnerships and identifying compelling investment opportunities across the infrastructure landscape in the region. Mike Dorrell, Stonepeak CEO, Chairman, and Co-Founder, 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. 'Stonepeak is market leading in creating and building infrastructure businesses in fast-growing economies, and we look forward to ramping up our service as a valuable partner for stakeholders in the Kingdom,' he said. Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, said deepening the commitment to the Kingdom of Saudi Arabia is a critical next step in the company's Middle East strategy. Steven Ciobo joined Stonepeak in 2020 after serving in the Australian Parliament for nearly two decades and holding numerous senior roles as a Cabinet Minister, including as Minister for Trade, Tourism, and Investment, and as Minister for Defence Industry. Fadi Kerbaj is a senior leader on Stonepeak's investment team bringing 15 years of extensive infrastructure investment experience and a deep regional network to the firm having spent the majority of his career in infrastructure investment and advisory roles in the Middle East. Most recently, Fadi was the Head of Saudi Arabia for Tribe Infrastructure, where he led a broad range of strategic transactions across district cooling, water, waste, and social infrastructure, and prior to Tribe he invested in similar sectors across the region through his role at Macquarie. In addition to its presence in the Kingdom, Stonepeak employs more than 300 people in New York, Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi.
Bloomberg
05-03-2025
- Business
- Bloomberg
Stonepeak's Mike Dorrell Mints $9 Billion Infrastructure Fortune
Infrastructure investing in the US was starting to boom in 2007 and Mike Dorrell was looking to capitalize on his expertise. Dorrell, a managing director for Australian bank Macquarie Group Ltd., and colleague Trent Vichie went to Blackstone Inc. and successfully pitched the alternative-investment giant on building out an in-house business buying assets like pipelines, cell phone towers and toll roads.
