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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.
The lead managers on the initial public offering are estimating Emaar Development LLC’s fair value at between 26 billion dirhams ($7.1 billion) and 33 billion dirhams.