Saudi Al Nahdi Office Joins Dubai’s GII for Deal Expansion

10 Jul, 2024

Saudi Al Nahdi Office Joins Dubai’s GII for Deal Expansion

Dubai-based Gulf Islamic Investments LLC (GII) has successfully raised $100 million from prominent investors, including Saudi Arabia’s renowned Al Nahdi Family Office. This significant investment marks a major step in GII’s strategy to expand its private equity business across the Middle East and India. The funding will support GII’s efforts to enhance its portfolio in high-growth sectors such as medical and logistics.

Al Nahdi Medical Co., the largest pharmacy retail chain in Saudi Arabia, has joined other investors to drive GII’s new initiatives. GII, managing around $4.5 billion in assets, aims to leverage this capital for strategic investments and growth opportunities. Recently, GII invested $160 million in Abeer Medical Company and closed a $600 million deal for a majority stake in Al Meswak Dental Clinics, one of Saudi Arabia’s largest dental and dermatology care providers.

Additionally, GII’s Shariah-compliant investment approach includes alternative assets, exemplified by its partnership with Brookfield Asset Management Ltd. in acquiring Dubai-based GEMS Education. The Al Nahdi Family Office, known for its successful IPO of Nahdi Medical Co., continues to diversify its investments across various sectors, including healthcare, education, clean energy, and artificial intelligence.