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Arab Petroleum Investments Corporation
APICORP is a multilateral banking institution created by OAPEC to support the Arab energy industry. It provides strategic equity investments, project loans,...
Arab Petroleum Investments Corporation
APICORP is a multilateral banking institution created by OAPEC to support the Arab energy industry. It provides strategic equity investments, project loans, trade finance, advisory services, and research. APICORP has made 9 investments, including a line of credit to Gunvor Group in 2021, and has 4 portfolio exits, including Gunvor Group in 2025.
General information
Firm type
Multi Family Office
Year founded
1975
AUM
Undisclosed
Location
Region
Middle East
Country
Saudi Arabia
City
Riyadh
Corporate office
Riyadh, Saudi Arabia
Additional offices
Al Khobar, Saudi Arabia
Principals
Khalid Ali Al-Ruwaigh
Chief Executive Officer
Sector focus
Frequently asked questions
Who owns APICORP and how does its governance work?
Ten Arab oil-exporting nations own APICORP through the Organization of Arab Petroleum Exporting Countries (OAPEC). The shareholder base includes Saudi Arabia, the UAE, Kuwait, and seven other member states, making it a multilateral institution rather than a sovereign wealth fund or private entity. Governance flows through a board of directors representing member states, balancing commercial objectives with energy-policy priorities.
How does APICORP's rebrand to The Arab Energy Fund change its investment mandate?
The rebrand formalizes a strategic shift already underway: APICORP is expanding beyond pure hydrocarbon project finance into renewables, energy efficiency, and broader infrastructure. The label 'The Arab Energy Fund' signals to co-investors and issuers that the institution now targets the full energy mix — from oil and gas midstream assets to solar generation and district cooling — rather than acting solely as a petroleum-sector financier.
What is APICORP's relationship with Stonepeak?
In 2025, APICORP and Stonepeak announced a $1 billion strategic partnership to invest jointly in Middle East energy infrastructure. The arrangement pairs APICORP's regional origination network and multilateral balance sheet with Stonepeak's specialized infrastructure underwriting capabilities, targeting assets across power, midstream, and energy-transition sectors in Saudi Arabia, the UAE, and the broader Gulf.
Does APICORP invest outside the hydrocarbon sector?
Yes. While APICORP's legacy portfolio is weighted toward oil and gas project finance, its recent activity includes equity investments in district cooling (PAL Cooling Holding) and explicit partnership language around renewables. The treasury portfolio also deploys into global fixed-income instruments, diversifying the institution's risk profile beyond direct energy-project exposure.
How does APICORP source deals?
APICORP sources primarily through its shareholder governments and the network of state-owned energy companies across OAPEC member states. The institution's multilateral status gives it preferential access to sovereign-guaranteed energy projects that commercial lenders cannot always reach. It also co-invests alongside dedicated infrastructure managers like Stonepeak and CVC DIF to access assets requiring specialized operational expertise.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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