EQT is exploring a potential sale of two English language education businesses in Vietnam that could together command a valuation of about $500m, according to a report by Bloomberg citing people familiar with the matter.
The Swedish private equity firm is working with a financial adviser on a possible disposal of ILA Vietnam and Vietnam-USA Society English Centers, known as VUS, the people said. Discussions remain at an early stage and may not ultimately lead to a transaction.
EQT declined to comment, while ILA and VUS did not respond to requests for comment.
EQT has owned ILA since 2017, when it invested through its EQT Mid Market Asia III fund. The vehicle also invested in an education group in China’s Yunnan province alongside businesses in other sectors.
VUS was acquired by Baring Private Equity Asia in 2019. EQT subsequently bought BPEA in 2022, bringing the Asian private equity platform into its wider business as EQT Private Capital Asia.
The potential disposal comes after EQT’s expansion deeper into the education sector. In March 2025, the firm led a consortium that completed the $14.5bn acquisition of international schools operator Nord Anglia Education, in what was described as a record transaction for the sector.
EQT, which is headquartered in Stockholm, had $333bn in assets under management at the end of the second quarter, according to its website.
The possible sale would give EQT an opportunity to crystallise value from its Vietnam education investments amid continued investor interest in the country’s private education market.
