EQT is set to return $5.4bn to investors following the sale of a stake in Nord Anglia Education, marking one of the largest and most profitable private equity exits in Asia in recent years, according to a report by Bloomberg.
The report cites unnamed sources familiar with the deal as highlighting that the exit has delivered nearly four times its invested capital, highlighting EQT’s ability to drive substantial value creation in the education sector.
EQT originally invested in Nord Anglia in 2008, later selling and reinvesting in 2017 through a different fund.
Despite concerns over slower exit activity among Asia-based managers compared to their US and European peers, this deal follows the firm’s 2023 exit of Indian tech services provider Coforge, which generated a three-times return on its $2.2bn sale.
Rather than fully cashing out, EQT reinvested alongside Canada Pension Plan Investment Board (CPPIB) and a consortium led by Neuberger Berman, Corporación Financiera Alba, and Dubai Holding Investments. The deal values Nord Anglia at $14.5bn, including debt, with $10bn in equity syndicated to 70 investors, including family offices and founders of previously acquired schools.
“We want to run with the winners,” said Jean Eric Salata, EQT’s Asia Chair. “Rather than selling top-performing assets, we want to hold onto them as long as possible.”
Nord Anglia has capitalised on the booming global demand for premium private education. Key growth markets include the Middle East, the US, and emerging Asian economies such as Vietnam.
Founded in 1972 and headquartered in London, Nord Anglia operates more than 80 international schools across 33 countries in Asia, Europe, the Middle East, and the Americas.
EQT’s Asia-focused investments have delivered strong returns, with over 50% of its large-cap exits generating three times invested capital. The firm’s flagship Fund VI and Fund VII have achieved net returns of 20%, based on recent filings.
