KUALA LUMPUR, Feb 19 — The Rise Fund, a multi-sector global impact investing platform of the United States (US)-based private equity firm TPG Inc, has signed a definitive agreement to acquire a controlling stake in Asia Pacific University of Technology and Innovation (APU).
TPG said the agreement was signed with its co-investors, including the Retirement Fund (Incorporated) (KWAP) and Employees Provident Fund (EPF).
“The investment will be structured through a share purchase from KV Asia, a leading private equity fund focused on mid-market investments across Southeast Asia,” it said in a statement today.
TPG said APU is The Rise Fund’s second education investment in Malaysia, following its signing of a transaction to acquire the International Medical University which was announced in June 2022.
“These build on The Rise Fund’s growing tertiary education portfolio which includes InStride and the Center for Education and Access in the US,” it said.
The statement did not provide details on the size of the stake or the acquisition cost. — Bernama
