Baring makes Singaporean education acquisition
Baring Private Equity Partners Asia has acquired the tertiary education business of Singaporean education and training institution PSB Academy for an undisclosed amount.
According to a statement, Baring aims expand the business' footprint across Asia in markets such as China, India, Indonesia and Vietnam, brokered through local partnerships and acquisitions. It further looks to increase student enrollment by offering a wider range of courses, and strengthen PSB's relationship with university partners.
Baring claims to have invested more than $400 million in education-related assets. Its current portfolio includes Nord Anglia Education, a K-12 school platform with a focus on Asia; Minsheng, an operator of private colleges in China; and Cambridge International College, a provider of vocational education and English tutoring services to predominantly Asian students in Australia, the UK and Canada.
CEO and Founder of Baring PE Asia Jean Eric Salata said that the acquisition is in line with the firm's education mandate in Asia. "Singapore is an excellent base for the development of higher education in Asia, as demonstrated by the success of the government's Global Schoolhouse Initiative, and we look forward to further developing the PSB Academy brand in Singapore and the region," he added.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.