SINGAPORE, 9 July (PTI) New York-listed Apollo Global Management has doubled its capital commitment to Global Schools Group (GSG), which plans to spend between US$150 million and US$2 billion over the next few years on Merged and acquired Ivy League K12 schools.
GSG’s India firm said Apollo will double its initial long-term funding in 2021, enabling GSG to grow its investments by more than $650 million and complete initial deals in the European and UK markets, while strengthening its presence in Asia and the Middle East of existing business. Origin parent group Global Schools Foundation (GSF) announced on Saturday.
GSF said: “It is expected to invest a further US$150-2 billion in the next few years to accelerate the company’s global expansion through the acquisition of leading ultra-premium Ivy League K12 schools.”
In the past three years, GSG has completed more than 25 acquisitions, enrolling more than 20,000 students across Asia and the Middle East.
Recent transactions include the 100% acquisition of Dwight School, Seoul, South Korea; Glendale College, Hyderabad; Silver Oak International School, India; Vikaasa School, Madurai, India; Regent International School, Malaysia; International Communist Movement, Philippines; and Harrods International College Cambodia.
Atul Temurnikar, Chairman of GSF, said: “GSF aspires to become one of the top five leading K12 platforms in the world. Apollo’s mixed value business is the perfect capital solution to meet our long-term needs.”
“Funds under Apollo’s mixed value strategy have committed to expanding their existing investment in Singapore-based education company GSG to help accelerate the company’s global expansion,” said Mathew Michellini, Partner and Head of APAC at Apollo.
Gaurav Pant, Partner at Apollo Singapore, said: “GSG has shown tremendous leadership and vision in executing an Asia-led global education platform. The team is passionate about creating and delivering the best possible learning outcomes for all students across the globe.”
“Apollo is truly fortunate to have played our part in this transformational journey,” he said.
Part of the funds will go towards Singapore’s Global Village, a bespoke 600,000 sq. ft. futuristic education space that will house two state-of-the-art international schools – Global Indian International School and One World International School.
In 2021, GSG was named the ‘World’s Most Awarded School Network’ by the UK Book of World Records, having won over 500 awards for innovation, green initiatives and excellence in performance and business.
GSG’s strength lies in the use of proprietary learning technologies combined with data analytics and artificial intelligence to accelerate student learning outcomes.
Founded in 2002, Singapore-based GSF is a community-oriented educational institution that has grown to serve 40,000 students at 40 campuses in 11 countries across the UK, Asia and the Middle East over the past two decades.
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