U.S. private equity firm TPG is in advanced talks to buy Malaysian private education assets owned by regional buyout firm KV Asia Capital in a deal that could be worth more than $300m, three sources with knowledge of the matter told Reuters.
An agreement could be struck as early as the first quarter, one of the sources said.
TPG, which has $135 billion of assets under management globally, has been expanding in Southeast Asia in recent years, including in Malaysia.
KV Asia last year appointed Rothschild & Co to explore a sale of Asia Pacific Education Holdings, the sources said, declining to be named because the talks are currently underway.
TPG, KV Asia and Rothschild declined to comment.
The growing number of affluent families in Southeast Asia has made education assets in the region attractive to investors.
The sale of Advent International’s stake in Singaporean tuition chain The Learning Lab has garnered interest from private equity firms including PAG and Platinum Equity, Reuters reported in November.
