Gulf Islamic Investments group (GII) has concluded its funding arrangements in a consortium led by Brookfield Asset Management Ltd., through its Special Investments (“BSI”) and Middle East private equity programmes, to invest in the Dubai-headquartered private schools operator and service provider GEMS Education.
For GII, a leading Shari’ah-compliant global alternative investment group with over US$4.5 billion of assets under management (AUM), the completion of this investment represents the second transaction with Brookfield this year. In April 2024, GII sold its majority shareholding in its UAE logistics business for an undisclosed amount to Brookfield.
GEMS has provided educational services in Dubai for over six decades and is the largest private schools’ operator in the Middle East. It expects to welcome more than 140,000 students across its 46 schools in the UAE and Qatar by September 2024, including two schools opening in the emirates of Dubai and Abu Dhabi this August.
Pankaj Gupta, GII’s co-founder and co-CEO, commented, “The UAE’s spectacular economic growth is founded on a strong educational base, empowered by the leadership’s support and attitude that ‘nothing is impossible’. Our investment in GEMS will allow the company to supercharge the next phase of its growth plans”.
Mohammed Alhassan, GII’s co-founder and co-CEO, added, “As established investors, GII has a track record of investments across the GCC in several verticals, including in education, healthcare, logistics, food, education and real estate. We are very excited to develop our relationship with GEMS Education, the Gulf’s largest provider of private schooling”.
Sunny Varkey, GEMS’ Founder, concluded, “GEMS has experienced significant growth over its recent history, becoming one of the world’s most respected education companies. These investments demonstrate the breadth of the business, the educational quality, and the critical infrastructure that we deliver collectively for the UAE”.
