The Arab Energy Fund, now operating as TAEF, plans to increase its private equity activity with a goal of reaching $12bn in combined equity and debt investments over the next three years. CEO Khalid Al-Ruwaigh outlined the strategy in a Bloomberg interview.

This expanded role reflects broader Gulf efforts to diversify away from oil revenues. TAEF has already committed capital to major deals, including a $11bn investment in Saudi Aramco gas assets and a minority stake in Arabian Petroleum Supply Co., which focuses on sustainable energy.

TAEF's dual debt and equity capability allows faster deal execution than traditional funds. The fund, established in 1975, raises most capital through bond issuance. Its growing use of private equity structures signals how Gulf investors are adapting to accelerate energy transition deals.

Upcoming agreements in the UAE suggest continued regional momentum. TAEF’s patient capital approach positions it as a key player in Middle East energy financing, especially as global investors seek exposure to renewable projects and infrastructure.