Today's Edition
ABU DHABI (ALETIHAD)
Kimmeridge, an alternative asset manager focused on the energy sector - headquartered in New York, with offices in Denver and London - on Wednesday announced its strategic expansion into the Middle East with the launch of an office in ADGM, the international financial centre of Abu Dhabi.
The opening underscores Kimmeridge's commitment to the Middle East, and strengthens the firm's role as a gateway for energy investments between the US, the UAE and the wider region.
The ADGM office builds on a legacy of relationships with regional institutions and partners, and is also expected to host investment teams as Kimmeridge explores opportunities in the Middle East and Asia.
Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments.
The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex HoldCo LLC, to Mubadala Energy – marking the platform's first major investment in the US energy market.
Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said, "The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalise on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM."
Commenting about the MOU, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said, "We are pleased to sign this MOU which provides the framework for future collaboration following our recent US partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities."
Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations.
Fayçal Benjelloun added, "Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets."
Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 licence from the Financial Services Regulatory Authority (FSRA) of ADGM, for its branch office in Abu Dhabi, to advise and arrange transactions and investments.
Arvind Ramamurthy, Chief of Market Development at ADGM, said, "ADGM is pleased to welcome Kimmeridge to one of the world's largest international financial centres and the region's fastest-growing asset management hub. With robust regulations for alternative investment entities, a comprehensive ecosystem for asset management and a vibrant community based in the heart of the 'Capital of Capital,' Abu Dhabi, ADGM provides an ideal environment for Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region."
