• AGBI reports, citing a statement from GFH Bank, that the lender has raised capital through the sharia-compliant Power Systems Opportunities Fund.
• The fund is meant to support expansion and modernisation of power networks operated by MacLean Power Systems (US) and H&MV Engineering (Ireland).
• Both named companies already have institutional backers, so the fund's route into them is not yet clear.
• No fund size, investor list, valuation or terms appear in the reporting cited, so no scale claim is made here.
• The disclosures to watch are the closing size and how the fund takes exposure to each company.

Bahrain's GFH Bank has raised capital through a sharia-compliant fund to invest in electricity grid infrastructure across North America and Europe, AGBI reported in October 2026, citing a statement from the lender. The fund is tied to two named operators, MacLean Power Systems and H&MV Engineering. The announcement carries no disclosed size, investor list or valuation, so what it signals is a direction of travel for Gulf capital, not a measured transaction.

What the lender has said

According to AGBI, GFH Bank said the Power Systems Opportunities Fund will support the expansion and modernisation of power networks operated by US-based MacLean Power Systems and Ireland's H&MV Engineering. AGBI describes MacLean as a maker of engineered products. The disclosed facts are narrow: a Bahraini lender, a sharia-compliant structure, a grid mandate across two regions and two named operators. Size, investors and terms are not part of the report cited, and none is assumed here.

Both named operators already have institutional backers

Neither company is unowned. Kirkland & Ellis stated in 2022 that it advised funds managed by Centerbridge Partners on a majority equity investment in MacLean Power Systems, and Exponent Private Equity lists H&MV Engineering on its portfolio page. These describe the companies' own ownership arrangements, which may have changed since, and not the role of GFH's fund. How the fund participates, whether as equity, co-investment or project financing, is therefore unconfirmed.

What to watch next

Three disclosures would settle the picture: the fund's closing size and date, the identity of its investors, and the terms on which it participates in the two companies. Until GFH Bank publishes them, the announcement is best read as a stated mandate rather than a priced deal. Counterparties and analysts should wait for fund documents before drawing conclusions about scale, returns or the extent of Gulf capital entering Western grid assets.