EMP Energy Fund to put over $500m in Middle East projects over next 12 months
US-based investment company EMP Global is set to raise $400m for its EMP Energy Fund that will invest in regional energy sector projects.
EMP is currently in talks with investors to reach a first close before the end of the year. The money for the fund is coming from several investors in the Middle East and expects to be able to deploy the full fund within nine to 12 months. This could be followed by the raising of an additional $150m.
A source within EMP says, “The lack of debt finance means that only the best projects are being done, which means that we see it as a very healthy investment environment.”
The fund is looking at opportunities to invest in the UAE, Saudi Arabia and Turkey.
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