Dubai: Energy Capital Group (ECG), a private global investment firm focused on energy and energy-related corporate investments, announced plans to pursue further investments in global energy services.
It hopes these plans will allow it to capitalise on growth in global energy demand and the resulting need for higher levels of production and added capacity, much of which will come from the Middle East and North Africa (Mena).
The firm, which was established in 2008, has already completed over $100 million (Dh367 million) of investments in global and Middle East energy companies.
Based on strong interest and market demand, ECG is now moving forward with a $300 million investment vehicle that has a targeted first close of $200 million in committed capital in the second quarter of this year.
International partners
The investment vehicle will pursue global opportunities with a primary focus on identifying investments among ECG's network of over 250 international partners that are known to its management and shareholders and which operate in the energy and related energy services sector.
The firm is targeting investments in small to medium sized companies that are well managed, have solid track records and strong performance and growth potential.
Of particular interest to ECG are global companies currently generating a small percentage of their total revenue from the Middle East but which have strong near-term opportunities to significantly grow their Middle East revenues. It is looking for an opportunity where ECG's regional expertise, network and shareholder base can help investee companies access a potentially large and lucrative pool of contracts available in the region and in particular in the GCC markets. Among ECG's investors are some of the Middle East's largest energy and industrial investment groups.
