INVESTMENT WATCH- EFG, GEMS to partner up on new K-12 education platform in Egypt; could invest USD 300 mn over the next five years: EFG Hermes announced yesterday (pdf) that it’s partnering up with GEMS Education to invest in the K-12 education industry in Egypt. The project, a 50/50 joint venture, will see EFG Hermes “establish an investment vehicle managed by its private equity division” to help fund the project alongside GEMS, offering investors “unique access to Egypt — MENA’s largest education market with over 20 mn enrolled students,” said EFG Hermes Head of Asset Management and Private Equity Karim Moussa. The JV could invest as much as USD 300 mn in Egyptian education opportunities over the next five years, Moussa told the National, a UAE daily.

What is GEMS? Dubai-based GEMS says it has 51 schools in three countries; its revenues stood at USD 926 mn for the 12 months ending August 2017 (its last full fiscal year), up 17% on the previous year, according to a regulatory filing (pdf).

Sizing the market: About 10% of Egypt’s c. 20 mn students are enrolled in private schools, Moussa told the National, and some 600k new students each year enroll in the education system, whether at public, private or international schools.