Alkhabeer Capital, a leading asset manager specialised in alternative investments, has acquired a majority stake in the Rihab Al-Maarifa Company, a Riyadh-based K-12 education provider.
 
Commenting on the acquisition, Ahmed Saud Ghouth, chief executive officer of Alkhabeer Capital, said: ”This acquisition will bolster Alkhabeer’s investments in the kingdom’s education sector, which has become a key focus following the launch of the Saudi Vision 2030 plan. Alkhabeer will corroborate the objectives of Saudi Vision 2030 through this transaction, reflecting its increased commitment and investment in this sector.”
 
The Rihab Al-Maarifa Company operates a six-building educational complex located in the eastern Riyadh district of Al-Yarmouk, comprising conference venues, laboratories, and a purpose-built stadium. The complex can accommodate the needs of over 5,000 students.
 
Ghouth added: “Saudi Arabia’s education market is the largest in the Arabian Gulf region, and our private equity team is committed to seizing opportunities that offer significant upside potential. The team will work closely with the management of these schools to build on their positive record of accomplishments, and identify areas where Alkhabeer can add further value through greater efficiency and implementing new programs that will make it even more attractive. Our goals are in line with our government’s vision to provide Saudi children with a high-quality and multi-faceted education, while also helps achieving sustainable returns.”
 
Ibrahim Mohammed Al Muhanna, chief executive officer and shareholder of the Rihab Al-Maarifa Company, said: “We are proud to partner with Alkhabeer Capital, and we believe that by working together, we will strengthen our organisation and enhance further Rihab’s leading position in the kingdom’s education sector. We are also very pleased that Alkhabeer shares our commitment to providing high-quality educational services in line with government development plans, and we look forward to building on our success together.”
 
Alkhabeer Capital’s private equity portfolio has seen a steady growth over the last few years, specialised in sectors such as healthcare, education and industry, the company said. - TradeArabia News Service