Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, has launched a $300 million Saudi Education Fund (SEF) to create an institutional world-class K-12 operator in Saudi Arabia.
SEF aims to capitalise on the growing student population in private schools, which is expected to more than double in line with Saudi’s 2030 vision targets, according to a press release.
The fund will meet the critical need for strong operators to cater to such growing demand.
Moreover, SEF has entered into definitive agreements with GFH Financial Group to acquire a portfolio of international schools owned by private equity funds managed by GFH under the brand name Britus Education.
This portfolio includes four schools in Saudi Arabia, two in the UAE, and one in Bahrain, boasting a total capacity of nearly 12,000 students, with nearly 8,000 students currently enrolled.
Karim Moussa, Co-CEO of EFG Hermes, commented: "Through this investment, we are committed to ensuring that Britus Education flourishes and adapts to the dynamic needs of students and communities throughout the region."
Last month, EFG Hermes concluded an accelerated book build (ABB) to divest a stake of Helmerich & Payne (H&P) in ADNOC Drilling Company.
