Blackstone Group eyes Dubai’s GEMS Education

September 2, 2014 9:56 am

Blackstone Group LP, a New York-based private equity firm is reportedly close to a deal to acquire a minority stake in Dubai’s GEMS Education, Bloomberg has reported. Blackstone has teamed up with Fajr Capital to invest in the world’s biggest privately held schools operator through its Blackstone Tactical Opportunities unit. A formal agreement to buy 20% of the company may be reached in the next couple of weeks, Bloomberg said, adding that the deal may value the stake at about $350m.