Bahrain’s GFH Financial Group has teamed up with a subsidiary of global asset management group Schroders to invest in a range of sectors that include health care, education, technology and the consumer segment in different markets in Europe and Americas.
The two companies already completed their first deal in a global healthcare education provider, which is active in Europe and Latin America, and are looking for more opportunities, GFH said in a statement on Monday to the Dubai Financial Market, where its shares are traded.
GFH did not divulge details of the total investment in the deal but said the education provider has a large network of 35,000 students across 10 countries and “is solidly profitable, with tremendous growth potential”.
The partnership with Schroders Capital “strongly aligns with GFH’s vision of building a robust European and American private equity investment platform, an area where we continue to focus and expand both organically, as well as inorganically through partnerships, joint ventures and acquisitions of GP stakes”, said Hammad Younis, chief investment officer of GFH.
Schroders Capital is a subsidiary of London-based Schroders and has $70 billion worth of assets under management.
“We have long identified health care as an important strategic area for growth and we believe that Covid has been a catalyst to further capital allocation to the sector in order to build a safe and sustainable world,” said Mr Younis.
GFH, which has more than $12bn in assets and funds under management, is boosting its investments across the globe.
Earlier this year, it acquired a $100 million student housing portfolio affiliated with several top universities in the US as part of its expansion plans.
It also bought a US warehousing and distribution logistics centre for $100m in June and is awaiting shareholders' approval to fully acquire Khaleeji Commercial Bank.
GFH has also been investing in logistics assets across Europe, including supermarket retailer Tesco's Avonmouth distribution unit in the UK, which it acquired for $102m.
It also picked up the GP Logistics Centre in Spain for $96m, Amazon's fulfilment centre in the Czech Republic for $165m and Amazon's three last-mile assets in Spain for $100m.
GFH more than doubled its net profit for the second quarter of 2021, driven by growth across its business units despite the lingering effects of the Covid-19 pandemic.
WHAT FANS WILL LOVE ABOUT RUSSIA
FANS WILL LOVE
Uber is ridiculously cheap and, as Diego Saez discovered, mush safer. A 45-minute taxi from Pulova airport to Saint Petersburg’s Nevsky Prospect can cost as little as 500 roubles (Dh30).
FANS WILL LOATHE
Uber policy in Russia is that they can start the fare as soon as they arrive at the pick-up point — and oftentimes they start it even before arriving, or worse never arrive yet charge you anyway.
FANS WILL LOVE
It’s amazing how active Russians are on social media and your accounts will surge should you post while in the country. Throw in a few Cyrillic hashtags and watch your account numbers rocket.
FANS WILL LOATHE
With cold soups, bland dumplings and dried fish, Russian cuisine is not to everybody’s tastebuds. Fortunately, there are plenty Georgian restaurants to choose from, which are both excellent and economical.
FANS WILL LOVE
The World Cup will take place during St Petersburg's White Nights Festival, which means perpetual daylight in a city that genuinely never sleeps. (Think toddlers walking the streets with their grandmothers at 4am.)
FANS WILL LOATHE
The walk from Krestovsky Ostrov metro station to Saint Petersburg Arena on a rainy day makes you wonder why some of the $1.7 billion was not spent on a weather-protected walkway.
World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
Killing of Qassem Suleimani
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
The biog
DOB: 25/12/92
Marital status: Single
Education: Post-graduate diploma in UAE Diplomacy and External Affairs at the Emirates Diplomatic Academy in Abu Dhabi
Hobbies: I love fencing, I used to fence at the MK Fencing Academy but I want to start again. I also love reading and writing
Lifelong goal: My dream is to be a state minister
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Brief scores:
Southampton 2
Armstrong 13', Soares 20'
Manchester United 2
Lukaku 33', Herrera 39'
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
The specs
Engine: 3.0-litre flat-six twin-turbocharged
Transmission: eight-speed PDK automatic
Power: 445bhp
Torque: 530Nm
Price: Dh474,600
On Sale: Now
