The deal is anticipated to close in the third quarter
Dubai, Jun 19, 2024: A consortium led by Canada’s Brookfield Asset Management Ltd. is investing in GEMS Education, the UAE’s private school operator.
While the financial specifics have not been revealed, the investment is anticipated to be nearly $2 billion, marking it as one of the largest private equity deals in the Gulf, as reported by Bloomberg News.
The group also includes Gulf Islamic Investments, Marathon Asset Management and the State Oil Fund of the Republic of Azerbaijan.
The transaction will enable private equity firm CVC Capital Partners to exit its stake in GEMS, which it acquired in 2019. According to a press statement issued on Tuesday, the deal is anticipated to close in the third quarter.