Dubai Career Diary

In a significant development, a consortium led by Brookfield Asset Management has announced plans to invest in GEMS Education, a leading provider of private K-12 schooling. The investment marks a new chapter for GEMS, which has grown from a single school in Dubai in 1959 to become one of the world’s largest private education providers.

A New Era for GEMS Education

The consortium, which includes Gulf Islamic Investments, Marathon Asset Management, and the State Oil Fund of Azerbaijan, has entered into a binding agreement to invest in GEMS, partnering with the Varkey Group. The transaction is expected to reach completion by Q3 2024.

GEMS has established itself as a leading education provider, teaching over 140,000 students across multiple international curricula and price points. The company has also expanded into adjacent services like school transportation and after-school programs.

A Vote of Confidence in GEMS’ Growth Potential

The investment is a testament to GEMS’ growth potential and market leadership. Sunny Varkey, Founder of GEMS, expressed his enthusiasm for the partnership, highlighting Brookfield’s operational expertise and commitment to supporting GEMS’ continued growth.

Dino Varkey, Group Chief Executive Officer of GEMS, emphasized the company’s focus on providing a world-class education, citing the supportive operating environment in the UAE as a key factor in the company’s growth.

Brookfield, a global alternative asset manager with over $925 billion in assets, was drawn to GEMS’ market leadership, stable cash flows, and growth potential. The investment marks a milestone for Brookfield’s private equity business in the Middle East.

This significant investment is expected to drive GEMS’ continued growth and expansion, solidifying its position as a leading education provider in the region.