Jordan Dubai Capital, Kazayna Capital Management to set up PE and infrastructure funds

The firms will also develop infrastructure projects in the power, water and transportation logistics sectors in Jordan and Kazakhstan.

Jordan Dubai Energy & Infrastructure (JDE&I) and Kazyna Capital Management have signed an agreement to jointly set up and invest in private equity and infrastructure funds.

JDE&I is the energy and infrastructure focused arm of Jordan Dubai Capital, an affiliate of state-backed Dubai International Capital. Kazyna Capital Management is the private equity arm of Samruk-Kazyna, a Kazakhstani sovereign wealth fund established in October 2008.

The fund details have not been disclosed. JDE&I did not reply to requests for comment at press time. Kazyna Capital Management was unavailable for comment at press time. 

The two firms will also develop investment and infrastructure projects in Jordan and Kazakhstan, according to a Jordan Dubai Capital statement. The targeted sectors include the power, water and transportation logistics sectors, Samir Al-Rifa’i, JDE&I’s chairman, said in a statement.

This is not the first time Kazyna Capital Management has entered an agreement involving infrastructure investment. In May, the firm agreed to form the CITIC-Kazyna Investment Fund I with Hong Kong-based investment firm CITIC Capital.

That fund will make investments in companies in the infrastructure sector as well as in projects in non-energy sectors. At least 50 percent of the fund is allocated to Kazakhstan and the remainder to China.

Kazyna Capital Management has previously invested in private equity funds including the $100 million Aureos Central Asia Fund and the Macquarie Renaissance Infrastructure Fund, which expects to close on up to $1.5 billion. It also forms joint funds with other investors to invest in Kazakhstan.

Founded in 2005, Jordan Dubai Capital primarily makes buyouts, take-privates and growth capital investments in Jordan. The firm has three investment arms, each dedicated to energy, real estate and financial services. It presently manages more than $1 billion in assets.