EFG Hermes, via its private equity arm, announced today that it is entering into an exclusive partnership with GEMS Education, one of the world’s leading providers of private English-language education for students from kindergarten to twelfth grade (K-12), to jointly establish a new platform focused on Egypt’s K-12 education sector. 

"Our 50/50 joint venture with GEMS Education will offer our investors unique access to Egypt - MENA’s largest education market with over 20 million enrolled students. We see a substantial opportunity to create value while making a sustainable social impact on future generations,” said Karim Moussa, Head of Asset Management and Private Equity at EFG Hermes. “We will target replicating GEMS Education’s success in the United Arab Emirates and elsewhere, introducing the international education standards that GEMS Education delivers, to a highly underserved education sector in Egypt."

"We are delighted to form this partnership, and through it affirm GEMS Education’s commitment to providing high-quality education throughout the region and beyond. Egypt has the largest education system in the MENA region, in terms of student population. We are excited to be able to provide educational choices for families in Egypt, which are underpinned by the expertise that GEMS has developed over the last 50 years," said Dino Varkey, Chief Executive Officer of GEMS Education.

In connection with the joint venture, EFG Hermes will establish an investment vehicle managed by its private equity division to fund the planned investments alongside GEMS Education. The JV will benefit from the combination of EFG Hermes’ investment track record in Egypt, together with GEMS Education’s operational expertise in the global K-12 sector.