- Elevate, supported by Rava Partners and Alta Capital, purchased Hartland International School's property in Dubai for US$100 million in its inaugural GCC investment.
- The purchase reinforces Elevate's global education infrastructure strategy with the addition of its US$1 billion portfolio of more than 30 Indian assets.
- The transaction represents a successful exit for NBK Capital Partners and demonstrates increasing institutional appetite for education-led real estate in the Middle East.
Elevate, a Rava Partners-backed portfolio company and joint venture partner with Alta Capital, today announced the acquisition of Hartland International School's (HIS) real estate in Dubai from NBK Capital Partners Real Estate Fund advised by Janus Henderson Emerging Markets Private Investments Limited (JHEMPIL) for US$100 million. The deal represents Rava Partners entry into the GCC region and Elevate's strategy to expand high-quality educational infrastructure in select global markets.
Hillhouse Investment, in partnership with Rava Partners' senior management, founded the real assets platform Rava Partners in 2020. Alta Capital is Rava Partners' sole operating partner in India, providing useful educational experience which is of strategic importance to this transaction.
Conveniently located in Mohammed Bin Rashid City, just a 10-minute drive from the Burj Khalifa and the centre of Dubai, HIS is a prestigious K-12 school set on nine acres of freehold land. Founded in 2015, the school provides the UK curriculum to its 2,050+ students and ranks among the top schools in Dubai. The school is under a long-term lease managed by Meraki Education, which oversees four schools across Singapore and Dubai, including HIS.
The transaction follows Elevate's proven history of investing in education-focused infrastructure in India and represents its inaugural commitment to the Gulf Cooperation Council (GCC) region. Founded in 2023 by Rava Partners and its Indian operating partner - Alta Capital, Elevate has expertise in developing and managing high-end K-12 schools and accommodation facilities for students. Today, Elevate has over 30 education-focused assets in India worth nearly US$1 billion that are serving over 90,000 students.
This acquisition represents a strategic milestone for Elevate as they move into the dynamic and expanding Middle East market stated Joe Gagnon, Co-Head of Rava Partners. We view education-driven real assets as an attractive opportunity to take advantage of the GCC region's growth, fueled by solid demographic trends and a strong demand for high-quality educational options.
Sid Gupta, Alta Capital Founder & Managing Partner further commented "Hartland International School showcases the outstanding educational infrastructure within the GCC. Leveraging our in-depth knowledge within this niche real asset sector, we are perfectly poised to spot and invest in additional opportunities of this type. Supported by a seasoned team and significant operating experience, we're actively increasing our footprint in the GCC, to invest in high-growth compelling sectors that resonate with our long-term, impact-driven real asset strategy".
Seller NBK Capital Partners Real Estate Fund advised by Janus Henderson Emerging Markets Private Investments is a major investor in the region and has been instrumental in building high-quality education infrastructure within the GCC.
Yaser Moustafa, JHEMPIL's Head of Investments stated: "We are pleased with the successful exit of the asset. We believe Elevate will be a strong long-term partner to Meraki and local companies in the Middle East. The transaction demonstrates the increasing attractiveness of education infrastructure and the sustained institutional appetite for alternative assets, such as real estate, in the region".
