KKR, the global investment firm with US$367 billion of assets under management, has announced its investment in EQuest, a Vietnamese educational services provider.
|IvyPrep is one of EQuest's units in Vietnam. Photo: EQuest|
With the fresh investment, the Vietnamese group will expand its scale and advance its mission to provide students in Vietnam with affordable access to a world-class education.
The value of the deal was not disclosed.
The investment is made through the KKR Global Impact Fund and marks the fund’s fourth investment globally in the educational and workforce development space.
Ashish Shastry, Co-Head of Asia Private Equity and Head of Southeast Asia at KKR said: “Investing in Vietnam and supporting the growth of the country’s businesses and industries is a key part of KKR’s strategy in Asia.
"As Vietnam continues to elevate on the world’s economic stage, access to affordable, high-quality education solutions plays an important role in meeting the nation’s objectives,” he added.
According to Nguyen Quoc Toan, co-founder and CEO of EQuest, access to high-quality education and intensive English-language training is crucial for Vietnamese students to achieve their full potential.
“With the support of KKR and its expertise, we are confident that we will be able to advance our mission to provide quality learning for Vietnam’s millions of students and contribute to the development of a skilled workforce that will support the country’s long-term growth aspirations,” he said.
EQuest operates a diversified portfolio across the educational sector in Vietnam, focusing on four core segments including K-12 bilingual schools, tertiary and vocational institutions, English enrichment courses, and digital learning solutions. Its K-12 portfolio serves more than 9,000 students in its eight campuses.
Earlier, KKR has invested in Vietnamese businesses including Vinhomes, the country’s largest real estate developer, and Masan MEATLife (formerly known as Masan Nutri-Science), an animal feed producer.