Collaboration advances shared objectives for investment in the Kingdom of Saudi Arabia and the rest of the region with EIG's targeted US$1 billion dedicated regional fund
RIYADH, Saudi Arabia & WASHINGTON--BUSINESS WIRE--
Hassana Investment Company (Hassana) and EIG, a leading institutional investor to the global energy and infrastructure sectors, have signed a memorandum of understanding (MoU) to collaborate on infrastructure and energy transition projects in the Middle East through EIG's targeted US$1 billion dedicated regional fund in which Hassana is considering becoming an anchor investor with an allocation of up to US$250 million.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241029142798/en/
Mr. Thomas commented, "We had the pleasure of partnering with Hassana on the Pearl Pipelines project in the Kingdom of Saudi Arabia and now we look forward to taking our relationship to the next level."
He added, "We believe energy transition is one of the defining investment themes of the next several decades and leading investors need to work together in an effort to deliver the reliable, affordable, and sustainable energy system that society requires. We are committed to doing exactly that."
Abdulaziz Al-Gudaimi, Chairman of EIG's MENA Operations, said "Hassana and EIG continue to make a difference in the energy scene of the Middle East. By deploying capital into innovative energy transition projects, we are endeavoring to build a sustainable future, boost the economy, and reinforce the region's commitment to clean energy solutions for many years to come."
About Hassana Investment Company
Hassana Investment Company is the investment manager of the General Organization for Social Insurance "GOSI". With over SAR1.2 trillion Saudi riyals (320 billion US dollars) of assets under management, Hassana manages one of the largest pension funds in the world with a diversified portfolio of local, regional and global investments across asset classes.
Hassana aims to invest for the long term using a thoughtful approach, robust processes, and world class talent to ensure the portfolio is positioned to deliver the best investment outcomes to address the future pension needs of all Saudi generations.
