GFH announces successful closure of 'Electric Power Systems Opportunities Fund' at $63 million

GFH Bank announced the successful closing of its $63 million Sharia-compliant investment fund, “Power Systems Opportunities,” which invests in critical electricity grid infrastructure in North America and Europe.

The fund provides investment opportunities in two leading companies that support the expansion and modernization of electricity grids: McLain Power Systems (MPS), through an investment vehicle managed by Management Pathway Capital, a unit of Clearlake Capital, and H&MV, through SQ Capital.

MPS is a leading manufacturer of engineering products used in the construction, maintenance, repair, and modernization of electricity transmission and distribution infrastructure and substations.

Demand for the company’s products is driven by the ongoing need to maintain existing utility grids, replace components, and upgrade them, alongside investments aimed at adding new capacity to the networks.

In March 2026, MPS completed its merger with Power Grid Components in a deal led by Blackstone, resulting in the formation of one of the largest suppliers of advanced engineering equipment to the North American electric utility sector.

The merged entity continues to operate under the name McLain Power Systems (MPS), with Blackstone-affiliated funds holding a majority stake, while an affiliate of Centerbridge reinvested alongside them. The fund invests in the company through a co-investment vehicle established by Pathway Capital Management.

H&MV, on the other hand, is a leading global provider of specialized electrical engineering services focused on high-voltage systems, serving data centers, battery energy storage systems, utility facilities, and renewable energy sectors.

The company designs, builds, connects, and commissions critical high-voltage infrastructure for electricity grids.

Its revenues grew from €61 million in 2020 to approximately €1 billion expected in fiscal year 2026, with a target of reaching €3 billion in annual revenues within five years. This growth is supported by a backlog of €2 billion and a pipeline of future opportunities valued at €16 billion.

The company employs over 1,900 staff across 20 international offices in Ireland, the United Kingdom, Europe, the United States, and Asia. In August 2026, SQ Capital led a continuity vehicle established by Exponent for H&MV, alongside Apollo S3 and Pantheon, executing the fund’s investment through SQ Capital.

The fund extends GFH’s investment focus on critical electric power infrastructure. The growth of artificial intelligence and data centers, along with broader electrification trends, is driving increased demand for electricity. New generation projects and battery energy storage systems are further increasing grid interconnection requirements, while existing grids require continuous investments to enhance their capacity, reliability, and resilience.

In light of these developments, the Fund adopts a strategy focused on the sector’s core enablers by investing in essential equipment and critical engineering services required to build, connect, maintain, and upgrade electricity networks. On this occasion, Hammad Yunus, Chief Investment Officer at GFH, stated: “Our investment in MPS and H&MV reflects GFH’s strategy of enabling our clients to invest in leading companies within their respective markets, well-positioned to benefit from strong, long-term structural trends, in partnership with prominent global asset managers.

Energy infrastructure represents one of our key investment pillars, given our firm conviction in its prospects amid growing electricity demand driven by artificial intelligence, data centers, and the expanding adoption of electrification, which in turn creates increasing needs to expand and modernize electricity networks.

Investing in both MPS and H&MV together offers a comprehensive opportunity covering the upgrading of existing network infrastructure and the creation of new capacities, regardless of future energy generation mix. We are pleased to invest alongside our clients in this vital segment of global infrastructure.”

For his part, Derek Ransford, Head of Co-Investments at Pathway Capital Management, said: “The growing need to upgrade and expand electricity infrastructure is creating attractive investment opportunities across various segments of the sector. We are delighted to collaborate with GFH to enable investors to participate in this increasingly important sector within the infrastructure market.”