Baring Private Equity Asia announced Tuesday that it had acquired the tertiary education business of Singapore’s PSB Academy, Reuters reported. The sale price was not disclosed. Baring has poured more than $400 million into education investments recently.
(Reuters) – Baring Private Equity Asia said on Tuesday it bought the tertiary education business of Singapore’s PSB Academy for an undisclosed amount as it continues to grow its portfolio of firms involved in education.
Baring has invested more than $400 million in the education sector and its current portfolio includes Nord Anglia, which provides primary and secondary level schooling, and Minsheng, which operates private colleges in China.
The private equity firm also owns Cambridge International College, a provider of vocational education and English-language tutoring to predominantly Asian students in Australia, Britain and Canada.
Baring bought PSB Academy’s tertiary education business from testing and certification firm TUV SUD, which on Tuesday also announced the divestment of its 49 percent stake in James Cook Australia Institute of Higher Learning to JCU Enterprises. (Reporting by Kevin Lim)