Amanat Holdings, a leading healthcare and education investment company in the UAE, is planning to invest AED 1 billion ($272 million) to expand its footprint in the education and healthcare sectors across Saudi Arabia and Egypt, as well as UAE, Argaam reported.
The Dubai-based firm has raised $323 million (AED 1.2 billion) into four portfolio companies operating in the education and healthcare sectors in 2018, the Saudi financial portal added.
“We have AED 500 million of cash on our balance sheet. Since we have the ability to leverage our balance sheet and that of our portfolio companies, we probably have a dry powder of close to AED 1 billion that we intend to invest over the next few years in our target markets,” Amanat’s CEO Tristan de Boysson told Argaam in an exclusive interview.
“We are looking at private higher education universities in the Kingdom,” Boysson added.
It is worth noting that Amanat, listed on the Dubai Financial Market (DFM), holds a 35% stake in Abu Dhabi University Holding Company and wholly owns Middlesex University.
Amanat already owns a 33% stake in Sukoon International Holding Company and a 13.18% stake in International Medical Center (IMC) in Saudi Arabia.