Blackstone Joins Mideast Funds for Stake in Dubai’s GEMS - Bloomberg:
"Blackstone Group LP (BX) is taking a stake in GEMS Education, the world’s biggest privately held schools operator, as part of a group of investors led by Dubai-based Fajr Capital Ltd.
Mumtalakat, the Bahraini sovereign wealth fund, is also part of the investment group taking a “significant” minority stake in GEMS’s emerging-markets business, covering the Middle East, North Africa and Asia, the company said today in a statement. Financial terms of the transaction weren’t disclosed.
Acquisitions by private-equity firms in the Middle East and Africa have surged 46 percent this year to $3.6 billion, according to data compiled by Bloomberg. Buyout firms are stepping up investments in the region amid a revival in Middle East economic growth."
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