Arab Finance: EFG Hermes, the subsidiary investment bank, announced EFG Holding Group (HRHO)that its direct investment arm has launched the Saudi Education Fund SEF worth $300 million, according to statement Egyptian Stock Exchange.
The fund aims to build a world-class educational operator in the Kingdom of Saudi Arabia to take advantage of the clear market opportunity that appears through the increasing growth in the number of students in private schools, pointing out that it is expected to more than double in line with the goals of Saudi Vision 2030 and the urgent need for strong operators to meet This is a growing demand.
She also went on to explain that the Saudi Education Fund has entered into final agreements with GFH Financial Group, to acquire a portfolio of international schools owned by private investment funds managed by GFH under the Brights Education brand. This portfolio includes four schools in Saudi Arabia, two schools in the Emirates, and one in Bahrain with a total capacity of approximately 12,000 students, with approximately 8,000 students currently registered.
In this context, Khaldoun Haj Hassan, CEO of GFH Equities, said: “Brights Education represents a distinct and innovative educational brand and platform through its strong presence in the Gulf Cooperation Council countries, offering a unique educational experience. It is also based on the success and strong experience of GFH. “In managing a model educational fund in Egypt, we strive together to commit to enhancing access to distinguished educational opportunities by providing the best educational experiences to students.”
For his part, Karim Moussa, co-CEO of EFG Hermes, stressed that the valuable experiences and clear visions they have gained over the past five years in establishing the education operator in Egypt, starting from kindergarten to the twelfth grade, the Egypt Education Platform, gives them the qualifications to provide educational services. High-profile for new students, he explained that this investment embodies their firm commitment to ensuring the success of Brights Education and its relevance to the evolving needs of students and communities in the region.
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