Health Bahrain’s GFH takes on US healthcare with Big Sky deal By Andy Sambidge January 3, 2023, 3:26 PM bigskymed.com Jason L Signor, CEO of Big Sky Bahrain’s GFH Financial Group announced on Tuesday it has completed the acquisition of a majority stake in Big Sky Asset Management, a US real estate asset manager focused on the healthcare sector. The transaction further expands GFH’s presence in the States and follows the partnership in May with SQ Asset Management, a specialist in student housing in prime US states and cities. With the acquisition of Big Sky, GFH said it has established a strong foothold in the growing healthcare market. Big Sky manages assets with more than $2 billion in cumulative transaction value made up of about 130 medical facilities. Bahrain’s GFH commences trading on Abu Dhabi bourse “We are looking forward to this partnership with an established and well positioned expert such as Big Sky, and believe it gives GFH a unique approach to the market by bringing together our regional expertise with Big Sky’s extensive know-how in the US healthcare market,” said Nael Mustafa, co-chief investment officer at GFH. “This acquisition is instrumental to the future growth of GFH by giving us strong management teams that are able to execute our growth strategy and give us a local presence, which in today’s market is a key ingredient to success. “We believe the healthcare real estate sector through Big Sky will present attractive returns for our investors.” GFH has completed acquisitions of two medical clinics through a joint venture with Big Sky that is valued in excess of $800 million. “We are strong believers in the healthcare market which is positioned for steady, resilient growth following the shift in outpatient services and subsequent demand for quality medical clinics assets,” added Mustafa. Jason L Signor, CEO of Big Sky, said: “Having GFH as a strong partner will enable Big Sky to further offer unique investment opportunities to investors in the US and the GCC. “Big Sky is well positioned to grow its AUM and become one of the largest healthcare real estate investors by combining our market capabilities with GFH’s strong global access.”
Finance Jordan to get $131m under IMF’s finance programme Jordan will receive $131 million from the International Monetary Fund (IMF) under its $1.2 billion extended fund facility programme (EEF). The four-year programme, approved in January 2024, remains on track, the IMF said in a statement following the completion of a second review. Jordan’s economy continues to grow amid low inflation, the fund said, adding […] 4 hours ago
Leisure & Hospitality Hilton set to triple Egypt presence with new brands Hilton is set to triple its presence in Egypt, increasing the number of hotels to 25 and expanding its footprint to more than 40 properties over the coming years. The expansion includes the opening of its lifestyle brand, Tapestry Collection, on the African continent, as well as Egypt’s first Curio Collection and a resort under […] 3 hours ago
Trade UAE finalises trade deal with five-nation EAEU bloc The UAE has finalised an economic agreement with the Eurasian Economic Union (EAEU) that will reduce or remove tariffs and eliminate technical barriers to trade with five countries. The economic partnership agreement with the EAEU, made up of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, will align customs procedures and harmonise digital trade and ecommerce, UAE […] 13 hours ago
Oil & Gas Conflict hampering Mediterranean operations, says Chevron CEO US energy major Chevron has struggled to keep natural gas production online in the Eastern Mediterranean during the conflict in the Middle East, according to its chairman and chief executive Mike Wirth. Chevron is the largest producer of natural gas for Israel, in particular through two “large” offshore platforms, Tamar and Leviathan, that also supply […] 13 hours ago
