SINGAPORE (Reuters) -Malaysia-headquartered private equity firm Navis Capital Partners said on Monday that it has secured $230 million in commitments for a newly structured vehicle called Navis Next Generation Fund.
Navis Capital Partners said in a statement that the deal involved a partial sale of its Southeast Asian K-12 – from kindergarten to 12th grade – education assets from its Navis Asia Fund VIII, while obtaining follow-on capital to stay invested in the assets.
It said the fund was oversubscribed, and the transaction was led by TPG NewQuest and supported by a diverse syndicate of investors.
“The oversubscription, particularly given the global malaise, is a testament to the strength of the underlying assets and the company that we are building around them, and the confidence investors have in our strategy,” said Nick Bloy, co-founder and managing partner at Navis Capital Partners.
The K-12 education assets currently include Ambassador Education Group in Thailand and CIA FIRST International School in Cambodia, according to Navis’ website.
(Reporting by Yantoultra Ngui; Editing by Sharon Singleton)
