GFH announces successful closing og $63M Power Systems Opportunities Fund

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GFH Bank announced the successful closing of its GFH Power Systems Opportunities Fund at $63 million (AED 231.4 million). The fund is Shariah-compliant and invests in the infrastructure of electrical networks in North America and Europe.

In a statement, the bank said the fund enables investment in two companies supporting the expansion and modernizing of electricity networks: MacLean Power Systems, through an investment vehicle affiliated with Pathway Capital Management, a unit of Clearlake Capital; and H&MV Engineering, through SK Capital.

MacLean Power Systems specializes in manufacturing engineering products used for building, maintaining, repairing, and upgrading transmission and distribution infrastructure, substations, and components for electricity utilities. Demand for its products is driven by the ongoing need for maintenance and replacement of utility network components.

In March 2026, MacLean Power Systems completed a merger with Power Grid Components in a Blackstone-led transaction, forming one of the largest engineering equipment suppliers to the North American electricity utilities sector. The merged company continues to operate under the MacLean Power Systems name, with Blackstone-affiliated funds holding a majority stake, and a Centerbridge investment entity also joining as an investor.

For H&MV Engineering, the bank said it offers electrical engineering services for high-voltage systems, including infrastructure design, construction, connectivity to power networks, and operations, targeting data center, battery energy storage system, utility, and renewables sectors.

Company revenues are expected to reach about €1 billion in FY 2026, compared to €61 million in 2020. It aims for €3 billion in annual revenue within five years, backed by an orderbook worth €2 billion and a €16 billion future pipeline.

The company employs over 1,900 staff across 20 international offices in Ireland, the UK, Europe, the US, and Asia. SK Capital also participated in August 2026 in leading a continuation vehicle set up by Exponent on behalf of the company, alongside Apollo S3 and Pantheon.