The Abu Dhabi Investment Authority is investing USD 500 mn in US power infrastructure firm Alpha Generation, according to a statement. The ArcLight Capital Partners-owned firm owns 11 GW of generation capacity across six states in the US, making it one of the largest independent power asset managers in the country.

The details: The acquisition hands Adia a minority stake in the company. It is set to close in 1H 2025.

What they said: “This investment, and the partnership between ourselves and Adia, will help catalyze both the future growth of, and the value of, this strategic portfolio of assets,” Angelo Acconcia, partner at ArcLight, told Reuters in an interview.

OTHER INVESTMENT NEWS-

Abu Dhabi-based Shorooq Partners is investing USD 9 mn in two startups from the 1 Bn Pitches competition at the 1 Bn Followers Summit, The National reports. The firm is allocating USD 6 mn to Saudi-based Halo AI, a platform that enables brands and influencers to automate marketing campaigns, and USD 3 mn to Eugenius, a venture led by Korean media expert Eugena Jung, which focuses on producing Korean-style dramas inspired by Middle Eastern content. The summit itself is chipping in USD 4 mn to support the two projects.

ICYMI- In November, Shorooq and the summit pledged AED 50 mn to the competition, with Shorooq contributing AED 30 mn and the summit AED 20 mn.

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