EFG Hermes’ private equity arm has launched a $300 million Saudi Education Fund (SEF) with the target of building an institutional world-class K-12 operator in Saudi Arabia.
SEF aims to capitalise on the clear market opportunity that is evidenced by the growing student population in private schools, which is expected to more than double in line with Saudi’s 2030 vision targets and the critical need for strong operators to cater to such growing demand.
EFG Hermes said SEF has entered into definitive agreements with GFH Financial (GFH) to acquire a portfolio of international schools owned by private equity funds managed by GFH under the brand name of Britus Education.
The portfolio includes four schools in Saudi Arabia, two in the UAE, and one in Bahrain, boasting a total capacity of approximately 12,000 students, with nearly 8,000 students currently enrolled.
“GFH is proud to partner with EFG Hermes to leverage its extensive track record in the education sector and to continue the growth of Britus to new heights,” said Khaldoun Haj Hasan, CEO of GFH Equities.
“Building on EFG Hermes’ solid success and experience in managing a model educational fund in Egypt, together, we strive to enhance access to high-quality education and foster excellence by providing the best learning experiences to students.”
Egypt Education Platform was launched under EFG Hermes’ first education fund back in 2018. Since then, the company acquired, developed, and successfully integrated a uniquely diversified portfolio of 25 assets spreading across Egypt.
“I am thrilled to announce that our Saudi Education Fund has made its inaugural investment in Saudi Arabia and the broader GCC region with the acquisition of a substantial and diversified portfolio,” stated Karim Moussa, Co-CEO of EFG Hermes. “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.”
The transaction is subject to certain conditions and regulatory approvals. PwC Middle East served as financial and tax advisor to SEF and White & Case as legal counsel.
