Dubai’s Educational Landscape: A Strategic Investment by Elevate
Introduction to the Acquisition
In a significant move for the educational sector in the Gulf Cooperation Council (GCC) region, Elevate, a portfolio company backed by Rava Partners alongside Alta Capital, has acquired the real estate of Hartland International School (HIS) in Dubai for an impressive US$100 million. This acquisition not only marks Rava Partners’ inaugural venture into the GCC but also showcases Elevate’s strategic focus on enhancing educational infrastructure globally.
About Hartland International School
Nestled in Mohammed Bin Rashid City—a mere ten-minute drive from the iconic Burj Khalifa—HIS spans nine acres of freehold land and is esteemed for its provision of the UK curriculum. Founded in 2015, the school caters to over 2,050 students, standing out as one of the finest educational institutions in Dubai. Its management falls under the purview of Meraki Education, a specialized educational group overseeing several schools across Singapore and Dubai.
Rava Partners & Alta Capital: A Dynamic Collaboration
Rava Partners, established by Hillhouse Investment in 2020, aims to develop a real assets platform with a focus on education. The partnership with Alta Capital brings in substantial expertise, especially in the Indian educational sector, making them well-suited for this new endeavor in the UAE. This strategic collaboration is envisioned to enhance Elevate’s footprint in high-quality educational assets, driven by the fast-paced demographic growth in the Middle East.
Elevate’s Vision and Growth Strategy
With the GCC region’s burgeoning demand for quality education, the acquisition of HIS aligns perfectly with Elevate’s mission. The organization has a successful track record in India, currently owning over 30 education-focused assets valued at approximately US$1 billion, impacting more than 90,000 students. Joe Gagnon, Co-Head of Rava Partners, commented on the acquisition, emphasizing its importance: “This acquisition is a strategic milestone for Elevate as they enter the dynamic and growing Middle East market.”
Institutional Interest in Education Infrastructure
The deal comes at a time when there’s a growing institutional interest in educational infrastructure within the GCC. Sid Gupta, Founder & Managing Partner of Alta Capital, highlighted this trend, stating that Hartland International School exemplifies the high-quality educational infrastructure present in the region. Gupta noted the firm’s intent to expand its investments in sectors that align with their impact-driven approach to real assets.
Role of NBK Capital Partners
On the other side of the transaction, NBK Capital Partners, advised by Janus Henderson Emerging Markets Private Investments Limited (JHEMPIL), has made its mark as a leading investor in the GCC’s education landscape. Their expertise has been pivotal in developing premium educational institutions, contributing significantly to this sector’s growth. Yaser Moustafa, Head of Investments at JHEMPIL, expressed confidence in Elevate’s capability to be a long-term partner for local businesses in the region, further solidifying the demand for education-focused real assets.
Financing the Acquisition
Standard Chartered Bank played a crucial role as the sole lender for this transaction, showcasing the bank’s support for investments in educational infrastructure, which are often seen as stable, long-term opportunities.
The Broader Landscape and Future Prospects
The acquisition of Hartland International School highlights a transformative phase in Dubai’s educational environment, driven by local and international investments aimed at elevating educational standards. Such initiatives not only benefit students but also bolster the region’s appeal as a global educational hub.
As Elevate and its partners prepare to leverage this opportunity, the educational infrastructure landscape in the GCC looks poised for significant enhancements, promising a richer learning environment for future generations.
