Noor Bank will hold the stakes alongside other investors and limited partners.
Fajr Capital Ltd., Bahrain’s sovereign wealth fund Mumtalakat and the Varkey Group are also considering selling some or all of their holding in the education provider in a deal that could value GEMS at about $4 billion.
The New York-based company will represent Abraaj Private Equity Fund IV’s backers in talks with liquidators as they seek to recover more than $99 million owed by the Dubai-based buyout firm
The company is working on deals in Saudi Arabia, the United Arab Emirates and Egypt.
Investment Corp. of Dubai is talking to banks to raise a five-year loan to partly repay a $2.55 billion facility that matures in June.
The Dubai-based buyout fund dismissed media reports that unused money had disappeared as ‘inaccurate and misleading’.
The companies set up a platform to invest in ports, terminals, transportation and logistics businesses in India.
The Public Investment Fund, or PIF, has held talks with local and international banks and could raise about $5 billion this year.
The Dubai-based developer of the world’s tallest skyscraper sold 800 million shares of Emaar Development PJSC at 6.03 dirhams a share.
The sale would be the largest since Emaar Malls PJSC’s $1.6 billion offering in 2014.