GEMS attracts new investors

GEMS attracts new investors

Published: October 15, 2014

Dubai-based schools operator welcomes three new shareholders.

GEMS Education, a Dubai-headquartered company that runs more than 50 schools around the world as well as a consulting practice and a charity, has attracted three new investors.

A group led by the UAE’s Fajr Capital and also including Bahraini sovereign fund Mumtalakat and funds managed by private equity group Blackstone has taken a minority stake in GEMS.

Specifically, the firms are backing the company’s business in the Middle East, North Africa and East Asia – GEMS also has operations in the US and Europe. In a statement announcing the deal, the new shareholders said they would be focusing on helping GEMS to speed up its development in the “key growth markets” of Saudi Arabia, Qatar, Malaysia and Bahrain.

Deloitte acted as sell-side adviser on the deal. Allen & Overy provided legal advice to GEMS Education. Barclays, Freshfields Bruckhaus Deringer and KPMG acted for the new investors.