Bahraini investment bank GFH Financial Group set up its US operations by acquiring a majority stake in Atlanta-based SQ Asset Management, which focuses on student housing.
Under the agreement, the Gulf company will add 180 property professionals to its employee base, “bringing significant investment and asset management experience in US real estate”, it said on Monday.
The financial details of the agreement were not disclosed.
“[The deal] provides us with direct access to the attractive living space and provides the group with local and well positioned access in the US to help execute our real estate strategy,” said GFH chief executive Hisham Alrayes.
“This investment is in line with GFH’s strategy of growing its presence globally by partnering and acquiring leading and well-established platforms with strong market reputations in Europe and North America,” he said.
[The deal] provides us with direct access to the attractive living space and provides the group with local and well positioned access in the US to help execute our real estate strategy
Hisham Alrayes,
chief executive of GFH
GFH has an investment portfolio across the world in a number of sectors, including health care, education and logistics.
It closed more than $1 billion worth of new investments across the region in international logistics, health care and education in 2021. Its assets grew by about 23 per cent to $8.08 billion at the end of last year.
“With the support and backing of GFH, we strongly believe in our ability to unlock further growth at SQ and execute on our clear plan to triple our assets under management,” SQ chief executive Andy Feinour said.
“We have grown our client base and assets under management … and we are confident we will significantly build on this by benefitting from GFH as our strategic partner.”
Founded in 2013, property manager SQ has more than $1.4bn in aggregate transaction value, with 32 housing properties and 10,300 beds currently under management across the US.
Its investment strategy is to acquire and manage high-quality student housing assets at large public US universities and drive value through operational efficiencies and capital upgrades.
After the transaction, GFH joins SQ's other owners in the shareholding structure. They include the company’s founders, a large global alternative investment company that manages about $51bn in assets and TriPost Capital Partners, a US-based private equity business.
“We are looking forward to working with SQ … and enabling the platform to expand into other sectors and geographies,” Mr Alrayes said.
“Having recently completed portfolio acquisitions with SQ in excess of $300 million of purpose-built student accommodation affiliated with top-rated universities in the US, we look forward to working closely with our new partners to broaden GFH’s asset under management … [and] target a global institutional investor base.”
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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5pm: Maiden (PA) Dh80,000 2,200m
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THE SPECS
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Price: Dh230,000
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
UAE currency: the story behind the money in your pockets
The specs: 2018 Ford Mustang GT
Price, base / as tested: Dh204,750 / Dh241,500
Engine: 5.0-litre V8
Gearbox: 10-speed automatic
Power: 460hp @ 7,000rpm
Torque: 569Nm @ 4,600rpm
Fuel economy, combined: 10.3L / 100km
'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal
Rating: 3.5/5
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
THE%20SPECS
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
%E2%80%98White%20Elephant%E2%80%99
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Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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UAE currency: the story behind the money in your pockets
The%20Roundup
%3Cp%3EDirector%3A%20Lee%20Sang-yong%3Cbr%3EStars%3A%20Ma%20Dong-seok%2C%20Sukku%20Son%2C%20Choi%20Gwi-hwa%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
BMW M5 specs
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Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
