Amanat Holdings, an investment specialist for the health and education sectors, has deployed 73 per cent of its total capital with the latest Dh369 million acquisition of the Middlesex University in Dubai.
The deal was struck with former owners including the embattled private equity firm, Abraaj Group.
The company has so far invested Dh1.8 billion of its Dh2.5bn capital, of which Dh1.1bn was deployed this year alone, Amanat said on Wednesday in a regulatory filing to the Dubai Financial Market, where its shares are traded. The acquisition of Middlesex University has a potential Dh73m earn-out clause — a contractual provision of additional payments to the seller if the business achieves certain financial goals. It is Amanat’s third investment in 2018.
The acquisition, the third for Amanat this year and its sixth portfolio asset, depicts the company’s “commitment to a more active investment strategy”, said Hamad Al Shamsi, chairman of Amanat.
Amanat last month confirmed it was in talks with owners including Abraaj, which went into provisional liquidation in June after facing accusations of mismanaging investors funds in a $1bn healthcare investment vehicle. However, Abraaj denies the allegations.
_______________
Read more:
Amanat acquires assets from North London Collegiate School in Dubai
Amanat Holdings seeks more deals to capitalise on Abraaj collapse
UAE regulator asks public firms to declare exposure to Abraaj
_______________
“Prior to provisional liquidators being appointed in respect of Abraaj Group, [Amanat] has entered on an arm's length basis into a share purchase agreement on June 8, 2018 with Mocha Education Holdings to acquire 100 per cent of the share capital of Middlesex Associates,” Amanat said in bourse filing at the time.
Abraaj is a limited partner in investment funds with third parties, and owned an indirect 6 per cent stake in Middlesex Associates, according to Amanat’s July 2 statement.
The company's investment strategy is focused on significant minority or majority stakes in companies exclusively in the health care and education sectors across the Arabian Gulf region and beyond. With the latest investment, the Amanat portfolio has expanded to include three education assets in the UAE, two healthcare assets in Saudi Arabia along with a real estate investment.
“Middlesex University Dubai is a strategic investment for Amanat. Following Amanat’s investment in Abu Dhabi University Holding Company, our higher education portfolio extends across the emirates of Dubai and Abu Dhabi and covers a wide range of programmes,” Shamsheer Vayalil, Amanat vice chairman, said on Wednesday.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The specs: 2019 BMW i8 Roadster
Price, base: Dh708,750
Engine: 1.5L three-cylinder petrol, plus 11.6 kWh lithium-ion battery
Transmission: Six-speed automatic
Power: 374hp (total)
Torque: 570Nm (total)
Fuel economy, combined: 2.0L / 100km
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
RESULTS
5pm: Maiden (PA) Dh 80,000 (Turf) 1,200m
Winner: AF Majalis, Tadhg O’Shea (jockey), Ernst Oertel (trainer).
5.30pm: Maiden (PA) Dh 80,000 (T) 1,400m
Winner: Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami.
6pm: Maiden (PA) Dh 80,000 (T) 1,400m
Winner: Foah, Fabrice Veron, Eric Lemartinel.
6.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 (T) 1,400m
Winner: Faiza, Sandro Paiva, Ali Rashid Al Raihe.
7pm: Handicap (PA) Dh 80,000 (T) 1,600m
Winner: RB Dixie Honor, Antonio Fresu, Helal Al Alawi.
7.30pm: Rated Conditions (TB) Dh 100,000 (T) 1,600m
Winner: Boerhan, Ryan Curatolo, Nicholas Bachalard.
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
More from Neighbourhood Watch:
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
-
-
-
-
-
-
-
-
-
Political flags or banners
-
Bikes, skateboards or scooters
