DUBAI, April 12 Kuwait's Alimtiaz Investment
Group has raised $120 million from the sale of a 10
percent stake in education provider HumanSoft Holding
which it plans to reinvest, Chief Executive Nawaf Marefi told
It plans to use the money to invest in sectors including
education, healthcare and real estate, he said.
Citigroup and EFG Hermes acted as joint
bookrunners on the deal, which cut the sharia-compliant
investment company's stake in HumanSoft to 10 percent, the
parties said in a joint statement.
The buyers were institutional investors including regional
sovereign wealth funds and other funds.
HumanSoft establishes and manages private universities and
colleges in Kuwait and internationally.
(Reporting by Tom Arnold; editing by Jason Neely)