Gulf Credit Partners, the private debt arm of MENA-focused alternatives group Gulf Capital, has provided financing to Evolvence Knowledge Investments.
The $30 million investment is structured as preferred equity, and was made through the firm's flagship debt fund, Gulf Credit Partners. The GCP fund held a final close on $221 million in October last year.
This deal deal, the sixth using capital from the GCP vehicle, takes the fund beyond the 60 percent invested mark.
EKI established private schools and nurseriess in the GCC, and counts Repton School Dubai amongst its portfolio.
Karim El Solh, chief executive of Gulf Capital, said in a statement confirming the deal: “Gulf Credit Partners’ investment will help EKI achieve its ambitious growth plans at an exciting time for the GCC’s emerging education sector. EKI’s positioning in the defensive and fast growing education sector as well as its sound strategy and experienced management team are strongly aligned with our fund’s strategy. Gulf Capital has been an active investor in defensive sectors such as power, water, healthcare and food and this latest investment in education will complement our existing portfolio of defensive investments.”