FINANCIAL NEWS

Bahrain’s Investcorp invests in UK’s GL Education Group

19 Mar 2012

(MENAFN) Bahrain’s Investcorp Corp bought UK-based education firm GL Education Group from Veronis Suhler Stevenson, Reuters reported.

GL Education, earlier called Granada Learning Group, is a provider of tools and services to enhance educational capabilities among children.

Investcorp is planning over USD400 million investments in companies in Turkey and in the Gulf Arab states in the next two years through its USD1 billion Gulf Opportunities Fund I. 50 percent of the fund were invested so far in four deals.

The company reported a 90 percent drop in half-year profits hit by declining hedge fund revenues.

Veronis Suhler Stevenson is a private equity and debt capital firm focused mainly on education, media and information sectors.

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