Bahrain-based GFH Financial Group is set to acquire a majority stake in SQ Asset Management, a US-based asset and property manager.
The deal will serve as the launch of GFH’s US operations, adding 180 employees and bolstering its US real estate capability.
SQ specialises in student housing and currently has more than US$1.4 billion in aggregated transaction value across its property portfolio.
Following the transaction, SQ will be owned by GFH, the founders, US private equity firm TriPost Capital and an unnamed alternative investment manager with USD$51 billion in AuM.
According to GFH chief executive Hisham Alraves, the acquisition will add “significant investment and operational expertise in US real estate” and is “in line with GFH’s strategy of growing its presence globally”.
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