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Blackstone forms energy development company focused on Middle East, North Africa

Blackstone Energy Partners launched Zarou, its fully owned energy development company focused on the Middle East, North Africa and neighboring regions.

The new entity was formed in partnership with a management team led by Sameh Shenouda, who will serve as its CEO. Additionally, Meftaur Rahman was appointed as its COO.

Shenouda was the former head of infrastructure equity investments at CDC Group PLC, the U.K. government-owned development finance institution, while Rahman was the former president and CEO at AES Jordan PSC, a gas-fired combined-cycle power station developer and operator.

Zarou, a name derived from an ancient Egyptian bridge, will focus on energy-related projects, including thermal and renewable power opportunities, as well as oil and gas midstream and water assets. Blackstone Energy Partners is the energy-focused private equity business of private equity giant Blackstone Group LP.