After GEMS deal, Gulf Islamic Investments taps $100m for new private equity investments in Saudi Arabia

Dubai: The Dubai-based Gulf Islamic Investments has received a $100 million capital infusion from shareholders - existing and new - that will be deployed into private equity opportunities in Saudi Arabia. Other Gulf markets too will come into the ambit of likely investments.

Contributors to the new funds included the Al Nahdi family office of Saudi Arabia, Sharjah’s Shurooq as well as existing GII stakeholders.

GII has been busy with multiple deals in recent times, including a JV to develop a logistics hub in Saudi Arabia. It also did a transaction with the global fund manager Brookfield to sell a controlling stake in its logistics-focused real estate portfolio.

There was also the high-profile participation in a stake purchase in GEMS, the Dubai headquartered school operator. GII, which has over $4.5 billion as assets under management, worked with Brookfield Asset Management on the GEMS Education stake buy. The company also took a majority share in Al Meswak Dental Clinics in Saudi Arabia, and a 'significant stake' in Abeer Medical Company.

“GII plans further expansion within the Arabian Gulf through acquisitions and co-investments with Saudi and other GCC investors," said Pankaj Gupta, GII co-founder and co-CEO. 

GII also has two PE funds in India and 'is examining further deals in the Indian PE space'.