Global completes exit of Al Rayan Holding Company
The private equity asset management team at Global Investment House has completed the exit of two of its managed funds, the Private Equity Fund and Global Opportunistic Fund I, along with co-invested clients from Al Rayan Holding Company.
The transaction was completed on 12 July 2012 and represents an 82 per cent stake.
The funds launched Al Rayan in 2007, and through acquisitions and organic growth created a network of six schools with over 10,500 registered students, making it the largest educational group in Kuwait offering educational services from kindergarten to high school.
In late 2009, the company went through a restructuring programme of its operations which included several organisational and business growth initiatives through the leadership of a team from the private equity arm of Global.
Between 2009 and 2011, revenues, EBITDA, and operating profits grew at a compounded annual growth rate of 12 per cent, 26 per cent and 73 per cent respectively.
Nasser Al Khaled, Global-appointed chairman of Al Rayan, says: “We are very proud of the fact that we have created a transparent and professionally run organisation with proper governance systems and structures in a sector dominated by family run businesses and that we have been successful in creating an extremely capable management team that can continue to grow and take this company forward.”
Rajiv Nakani, the head of alternative asset management at Global Investment House, says: “We are extremely delighted to have completed this exit and provided our investors with the liquidity particularly sought after in this economic environment.”
With the exit from Al Rayan Holding Company, the private equity asset management team at Global Investment House has completed 16 full and partial exits since 2010.
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