GFH Partners expands with Manrre acquisition
Deal News | Jan 24, 2025 | Legal Community MENA
King & Spalding has successfully advised GFH Partners in its acquisition of Manrre, a major player in the logistics and industrial real estate sector within the UAE and the GCC. Manrre, established by the Palmon Group, boasts a robust portfolio valued around AED 500 million and comprises 26 logistics and industrial properties. The acquisition marks a significant milestone for GFH Partners, which will serve as the new fund manager for Manrre, converting it into a Shariah-compliant investment vehicle. This strategic move will facilitate the broadening of its investor base, allowing it to tap into high-demand markets such as the UAE and Saudi Arabia. GFH Partners operates under GFH Financial Group as an asset management and real estate investment entity managing assets worth $6.5 billion. The acquisition deal was orchestrated by a seasoned cross-office legal team from King & Spalding, steered by key partners and supported by an expert team.
Sectors
- Real Estate Investment
- Legal Services
Geography
- United Arab Emirates – Manrre and GFH Partners are based in Dubai, UAE, and the transaction primarily involves assets and operations within the UAE.
- GCC – The transaction and the parties involved have strategic interests across the GCC, which includes future growth in Saudi Arabia.
Industry
- Real Estate Investment – The acquisition involves Manrre, a real estate fund specializing in logistics and industrial assets, directly implicating this industry.
- Legal Services – King & Spalding provided legal advisory services for the acquisition, indicating the involvement of the legal industry in M&A transactions.
Financials
- AED 500 million – The total portfolio value of Manrre's real estate assets, making it significant in the logistics sector.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GFH Partners | Bidding Company | Company | A subsidiary of GFH Financial Group, focused on real estate investment and asset management, managing $6.5 billion in assets. |
| Manrre | Target Company | Company | A Dubai-based real estate fund specializing in logistics and industrial assets worth approximately AED 500 million. |
| King & Spalding | Legal Advisor | Company | An international law firm advising GFH Partners on the acquisition of Manrre. |
| Palmon Group | Selling Company | Company | The original founder of Manrre, a UAE-based family business specializing in logistics property development. |
| James Stull and Malek Al Rifai | Lead Advisors | People | Partners at King & Spalding's Dubai office leading the advisory team in the transaction. |