Energy Capital Group (ECG), a Saudi-based investment firm, has closed its first fund of $150 million, which will target the creation of energy leaders in the Kingdom of Saudi Arabia.
The new fund was created through a merger of ECG and Cayan Holdings, with Riyadh-based Watar Partners advising the fund. Anchored by Jada Fun of Funds, the fundraising effort aims to develop Saudi Arabia’s energy sector and industrial services, with a focus on furthering the industrial growth of Saudi Arabia as well as the Gulf Cooperation Council as a whole.
Founded in 2008 by Ali Al-Turki, ECG has already closed over $5 billion worth of transactions, with significant investments in Saudi Arabia and the MENA region.
