Private equity firm Fanisi Capital has signed an agreement to sell Hillcrest International Schools to Dubai-based GEMS Education for Sh2.6 billion, marking the latest deal in the high-end private education industry.
Fanisi teamed up with businessman Anthony Wahome to buy Hillcrest out of bankruptcy in 2011, paying Barclays Bank of Kenya, the family of Kenneth Matiba and other creditors a total of Sh1.8 billion.
