MENA Infrastructure Fund acquires stake in UPC for $26.5 million

MENA Infrastructure Fund, the infrastructure equity fund sponsored by HSBC, Waha Capital and Dubai International Capital, has acquired 32.8% of United Power Company UPC) for $26.5 million.

UPC is listed on the Muscat Securities Market, with 40% of its equity capital being publicly traded. MENA Infrastructure Fund has acquired 32.8% of the founders' shareholding in the company from GDF Suez, the French energy giant

MENA Infrastructure Fund is a $500m infrastructure equity fund established in 2006. At its first close in September 2007, it raised commitments aggregating $300m. (Our directory of investors in the Middle East have more details on other Private Equity and investment firms in the Middle East like MENA Infrastructure Fund)