Gulf Islamic Investments (GII) announced on Thursday that it has invested in a consortium led by Brookfield Asset Management to acquire a stake in Dubai-based Gems Education.
The investment, made through a Brookfield-led consortium that includes GII, aims to support Gems Education in maintaining and expanding its position as the largest private K-12 education provider in the Middle East.
Strategic Investment for Growth
GII, managing over $4.5 billion in assets, revealed that this marks their second transaction with Brookfield this year. In April 2024, GII sold its majority shareholding in its UAE logistics business to Brookfield for an undisclosed amount.
Gems Education, the largest private school operator in the Middle East, is preparing to welcome more than 140,000 students across its 46 schools in the UAE and Qatar by September 2024. This expansion includes the opening of two new schools in Dubai and Abu Dhabi in August.
Leadership Perspectives
Sunny Varkey, founder of Gems Education, commented on the institution’s growth and reputation:
“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.”
Pankaj Gupta, co-founder and co-CEO of GII, emphasized the strategic importance of the investment:
“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, co-founder and co-CEO of GII, highlighted the firm’s investment strategy:
“As established investors, GII has a track record of investments across the GCC in several verticals, including in education, healthcare, logistics, food, and real estate.”
