Latest news with #StevenCiobo
Zawya
08-05-2025
- Business
- Zawya
Infrastructure investor Stonepeak launches Riyadh office
Independent infrastructure investor Stonepeak has launched a Riyadh office after receiving its non-securities business activities licence from the Saudi Ministry of Investment. The firm, which was founded in New York in 2011, and now has $73 billion of assets under management, will be led by former Australian politician Steven Ciobo and Fadi Kerbaj. Ciobo is a former tourism, trade and investment minister for Australia, until 2018. He joined Stonepeak in 2020 and has served as managing director and head of global affairs for Stonepeak. Kerbaj has been based at Stonepeak's office in Dubai as a principal investor. He was previously head of Saudi Arabia for Tribe Infrastructure, and invested in the region at Australian multinational banking and financial services group Macquarie. (Writing by Imogen Lillywhite; editing by Daniel Luiz)
Business Wire
08-05-2025
- Business
- Business Wire
Stonepeak Establishes Presence in Kingdom of Saudi Arabia
RIYADH, Saudi Arabia & NEW YORK--(BUSINESS WIRE)--Stonepeak, the world's largest independent infrastructure firm and leading US infrastructure investor, today announced that it is establishing its presence in the Kingdom of Saudi Arabia and expanding its commitment to the Middle East with senior investment professionals, the Honorable Steven Ciobo and Fadi Kerbaj, leading Stonepeak's engagement on the ground in Riyadh. These appointments build on Stonepeak's ongoing strategic commitment to the Middle East, including the establishment of the firm's office in Riyadh and receipt of its Ministry of Investment license to operate non-securities business activities in Saudi Arabia. Stonepeak 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.' Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, added: '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. We look forward to creating and building infrastructure businesses in the Kingdom, combining Stonepeak's global infrastructure sector expertise with our regional insights and capabilities.' 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. In these roles, Steven drove Australia's trade and investment agenda, securing deals on the Trans-Pacific Partnership, and with Singapore, Indonesia, Hong Kong, the United Kingdom as well as engagement with the European Union and the Gulf Cooperation Council. With his extensive senior network and global stakeholder relationships, Steven will be well positioned to focus on the origination of infrastructure investment opportunities and relationship development in the region. 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. The firm manages approximately $73 billion in assets from regulated centers on behalf of its partners. About Stonepeak Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 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 digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit
The Hindu
28-04-2025
- Business
- The Hindu
‘IMEC will work if India, Europe together keep agri sector out'
The India-Middle East-Europe Economic Corridor's (IMEC) potential can be realised if Europe and India can find common grounds by keeping the agriculture sector aside, Steven Ciobo, Australia's former minister of trade and defence, said on Monday. He said at a time when the world is undergoing a third industrial revolution, the impact of artificial intelligence will be extraordinary. 'The core of IMEC should be built on what is going to be 20 years from now. The UAE, Saudi Arabia are already trying to leverage their position to make sure they are on top of AI. India is on the top when it comes to the talent pool related to AI. IMEC stands to achieve when it realises this,' he said. Mr. Ciobo was speaking during the first India-Middle East-Europe Economic Corridor Summit held here. Maharashtra Chief Minister Devendra Fadnavis said that the State would be a gateway for the IMEC. . In his message for the first IMEC Summit, Prime Minister Narendra Modi said, 'The IMEC Corridor is reviving a trade route that connected civilisations and became the harbinger of flourishing trade and commerce, resulting in shared prosperity for the entire region. With the strengthening of these pathways, ancient partners will find newer ways of cooperation and collaboration. As the Corridor becomes a reality, it will unfold a futuristic blueprint for connectivity, commerce and culture. As India continues to expand its engagement with West Asia making our relationships stronger than ever before, this summit is yet another reaffirmation of India's deep-rooted commitment to integrate more deeply with global value chains and nurture inclusive growth.' Representing the European Union, Finland's Consul General in Mumbai said that the EU, which is the second largest economy, looked at EU not just for trade route, but also for political connectivity. 'IMEC is complementary to the Global Gateway initiative by the EU. Till now, the focus was on Africa. But now, it is on Asia too,' he said. Bullet train During a fireside chat at the summit, Mr. Fadnavis said while Gujarat had moved faster when it came to the bullet train project, Maharashtra too had increased the pace of work. The bullet train will be operational by 2028. From Vadhwan port, it will reach BKC in 20 minutes, he said. He also said that a new airport at Vadhwan would be operational to increase the capability of the port. 'Maharashtra has the aspiration to become the gateway for IMEC. Mumbai, Maharashtra will play a pivotal role in IMEI corridor. When we talk of the plans to become a trillion dollar economy, look at the infrastructure push in the last few years. Entire Maharashtra feels connected now. We have a great opportunity to become the logistics capital. Agritech, manufacturing, clean energy push, green manufacturing – these will be the drivers for IMEC corridor,' he said. Mr. Fadnavis said that the planned corridor would be a gamechanger for the State's electric vehicle (EV) plans. The port-led development model would give Mumbai an added advantage, he said. 'When Vadhwan port's construction is completed, it will be among the first 10 ports of the world. A port and an airport together will create a huge impetus for business. An entire ecosystem for manufacturing will be created there. The new port is to be operational in three to four years. We also plan to build edu-city, health city and innovation city as part of the third Mumbai we intend to develop,' he said, adding that Mumbai had missed out on the IT boom because of the high rentals. Industry representatives and dignitaries from several countries were present for the maiden summit organised by VishwaMitra Foundation, the Emirates Center for Strategic Policy & Research from UAE, and the Institute for Maritime Policy Research from Israel.
