Our friends at EFG Hermes have launched a USD 300 mn fund that aims to build an “institutional, world-class K-12 operator” in Saudi Arabia, it said in a statement (pdf). The firm’s Saudi Education Fund “aims to capitalize on the clear market opportunity that is evidenced by the growing student population in private schools, which is expected to more than double,” the statement added.

The gameplan: SEF plans to deploy USD 300 mn over the next three years, with a primary focus on the Kingdom, alongside its ventures in the UAE and Bahrain, Egypt Education Platform (EEP) CEO Ahmed Wahby said. Spark Egypt for Training and Development, led by the EEP team, is set to manage and oversee the new fund’s activities, he added.

The fund has also acquired a portfolio of seven schools: SEF has acquired seven international schools in Saudi Arabia, UAE, and Bahrain from GFH Financial Group under the Britus Education brand. Together, the schools can serve up to 12k students, with 8k already enrolled. The acquisition is subject to regulatory approvals.

About Britus: Britus Education is a MENA-based network of schools offering high-quality and affordable education to students across KSA, Bahrain, the UAE and Tunisia. The operator provides a wide range of international curricula including the British Curriculum, US Common Core Curriculum, IB Diploma Program, and the Egyptian Curriculum.

This isn’t EFG Hermes’ first foray into education: EFG Hermes back in 2018, alongside the Sovereign Fund of Egypt, GEMS Education, and other investors, launched its first education fund — the Egypt Education Platform. The platform has built a diverse portfolio of 25 assets in Egypt — 23 schools and pre-schools offering five curricula with a capacity of 25k students, an educational content business (Selah El Telmeez), and a transportation service (Option Travel) catering to over 3k students daily..

Same play, new stage: “Drawing on the expertise and insights we've gained over the past five years while establishing Egypt’s premier K-12 operator, EEP, we are poised to deliver exceptional educational services to our new student populations. 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,” Co-CEO of EFG Hermes Karim Moussa said.

ADVISORS- PwC Middle East was the financial and tax advisor to SEF and White & Case was legal counsel.

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