Rava Partners, the real assets arm of Hillhouse Investment, is making its debut in the Middle East by acquiring the real estate of Hartland International School in Dubai at a $100 million valuation, according to an announcement.
The firm is acquiring the real estate of Hartland International School from NBK Capital Partners Real Estate Fund through its portfolio company Elevate, which owns more than 30 education-oriented assets across India valued at approximately $1 billion.
Located in Mohammed Bin Rashid City, the nine-acre Hartland campus has over 2,050 students and is one of Dubai’s top-ranked K-12 institutions.
The school, which follows the UK curriculum, operates under a long-term lease managed by Meraki Education, which oversees four schools across Dubai and Singapore.
Joe Gagnon, co-head of Rava Partners, said the acquisition represents a strategic milestone for Elevate as it expands into the dynamic and growing Middle East market.
“We see education-focused real assets as a compelling opportunity to capitalise on the GCC region’s growth, driven by strong demographic trends and a robust demand for high-quality educational offerings,” Gagnon said.
Rava Partners, established in 2020 as a complement to Hillhouse’s broader private investment platform, builds real asset platforms in growth sectors of Asia’s economy. The firm has committed over $3 billion to 17 real estate companies across APAC since its inception.
The seller, NBK Capital Partners, is the alternative investments arm of NBK Capital. It focuses on high-growth opportunities in the MENA region across private equity, private credit, and real estate.
Since 2007, the firm, headquartered in Dubai, has executed 29 investments and 17 successful exits, including 11 mezzanine debt deals since 2009.
The acquisition comes about the month after Rava Partners announced picking up a majority stake in Asia Pacific’s rental housing provider Dash Living through a strategic investment of up to $150 million.
Dash Living currently manages over 2,000 rooms across major Asian cities like Hong Kong, Singapore, and Tokyo.
