Gulf Islamic Investments group (GII) announced on Thursday its participation in a consortium led by Brookfield Asset Management to acquire a stake in Gems Education, based in Dubai. This investment aims to bolster Gems' position as the leading private K-12 education provider in the Middle East, supporting its expansion efforts.
With over $4.5 billion in assets under management (AuM), GII highlighted this as their second collaboration with Brookfield this year, following the sale of their majority stake in a UAE logistics venture in April 2024. Gems Education, renowned as the largest private school operator in the region, anticipates serving over 140,000 students across 46 schools in the UAE and Qatar by September 2024, including new openings in Dubai and Abu Dhabi this August.
Sunny Varkey, founder of Gems Education, emphasized the company's substantial growth and global reputation in education. Pankaj Gupta, co-founder and co-CEO of GII, expressed confidence in Gems' future growth trajectory, citing the UAE's supportive educational environment and economic prosperity, as reported in the Khaleej Times.
GII recognized for its investments across various sectors in the GCC region, including education, healthcare, logistics, food, and real estate, views this partnership as a strategic move to advance Gems Education's ambitious expansion plans.