The Greenstone Weekly - Vol 91

Polus Capital Management secures ADIA investment (Gulf Business)

• Investment firm Polus Capital Management said on Wednesday it has received a capital commitment from the Abu Dhabi Investment Authority (ADIA) for its Special Situations strategy that would take the strategy’s assets under management to around $5 billion.
• The investment follows the U.S. Federal Reserve’s first interest rate cut in four years, which is expected to boost companies with balance sheet concerns, the asset class that Polus specialises in.

U.S. among 'fastest' growth markets for Masdar as it expands capacity (The National)

• Masdar's joint ownership of U.S. clean renewable energy power producer Terra-Gen will support the company's ambitious expansion plans in the U.S., one of its "fastest" growth markets, a senior executive said.
• The Abu Dhabi clean energy company closed its 50% stake acquisition of Terra-Gen Power Holdings – one of the country's largest independent renewable energy producers – on Tuesday. The size of the deal, one of Masdar's largest transactions, was not disclosed.

Value of Saudi Arabia’s assets under management exceeds $250 billion (Zawya)

• Saudi Arabia’s assets under management (AUM) have posted a double-digit growth and are poised to expand further by around $50 billion over the short term on the back of new regulatory reforms and growing equity and debt capital markets.
• The total value of AUM in the kingdom exceeded $250 billion at the end of the first half of 2024, rising by 13.5% from a year ago, Fitch Ratings said in a report on Tuesday.

OIA commits $150 million to ewpartners to further develop economy (Zawya)

• The Oman Investment Authority (OIA), the Sovereign Wealth Fund of Oman, has committed $150 million to ewpartners for the enhancement and stimulation of its economy and the surrounding region.
• The OIA is joining other marquee sovereign wealth funds and international investors in backing ewpartners Technology Innovation Fund II, a $1 billion private equity fund with a focus on expansion stage technology and technology-enabled investments in the Gulf Cooperation Council countries (GCC).