Sunday, Jul 15, 2012
(This story was originally published Saturday.)
BEIRUT (Zawya Dow Jones)--Kuwait's Global Investment House (GLOBAL.KW) said Saturday that its Private Equity Fund and Global Opportunistic Fund I, along with other co-investors, have exited their investment in the local Al Rayan Holding Co.
The two funds launched Al Rayan in 2007, which expanded its network through acquisitions and organic growth into six schools with over 10,500 students, thus becoming the country's largest educational group, the investment bank said in a statement. Global didn't provide any other details.
The Private Equity Fund owned 40% of Al Rayan while the Global Opportunistic Fund I held a 18.9% stake, according to Zawya.com data.
Global Investment House said that with this divestment, its private equity asset management team completes 16 full and partial exits since 2010.
"The private equity funds managed by Global Investment House have returned more than $238 million to its investors since 2010, excluding any dividends, mostly through trade sales," it added.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
15-07-12 0345GMT
