Riyadh – Mubasher: Alkhabeer Capital on Monday announced launching Alkhabeer Education Private Equity Fund I, which is the first education-focused product in its Private Equity investment portfolio.
Aiming to generate returns through the acquisition of a controlling stake in privately-owned provider of primary, secondary, and high school education in Riyadh Adwa’a Al Riyadh Education Company, the fund is a closed-ended investment fund that was launched in Q4-15.
“The Fund provides a direct channel for investors to access Saudi Arabia’s education market, the largest in the Arabian Gulf Region,” the Jeddah-based company said in a statement published on its official website.
Commenting on the launch, CEO Ahmed Saud Ghouth stated: “The government is aggressively investing in diversifying and growing its non-oil economy including the announcement of $51 billion budget allocation for the education sector in 2016. This pledge also provides interest-free, long-term developmental loans to schools through the Ministry of Finance to foster the growth of the Kingdom’s private education sector.”
He added that Alkhabeer Capital was pleased to partner with Adwa’a Al Riyadh Education Company, which has demonstrated a robust and sustainable business model since its establishment in 2001.
