Infinedi Partners (Infinedi), a private equity firm focused on long-term partnerships with founder-owned businesses, has completed its second investment – Cultural Experiences Abroad (CEA).
CEA is the fourth largest provider of study abroad educational programs for US university students in foreign countries. In 2019, the company provided study abroad and internship abroad programs for over 4,800 students in 22 cities across 14 countries, representing more than 300 sending universities.
Brian Boubek, Founder and CEO of CEA, says: “Our Partnership with Infinedi will allow CEA to fully support our U.S. university partners during this time of disruption in international education. We will also add significant Health & Safety resources and strategies to benefit our students and university partners. In addition, CEA now has the staying power to remain a leader in study abroad until the market rebounds.”
“Over the last decade, we have been incredibly impressed with Brian’s and CEA’s mission of partnering with leading US universities to provide their students with high quality academic programs, internships and study abroad experiences that drive personal growth, intercultural development and employability. This mission-first focus has positioned CEA as a leader in study abroad, and we are excited to be a part of its next chapter,” says Carter Harned, Partner of Infinedi.
Jay Hegenbart, Founder and Managing Partner of Infinedi, says: “Our firm has been able to invest over USD140 million of equity since the COVID-19 pandemic began. We are thrilled and humbled by the achievement of this significant milestone and the growth of our independent track record.”
Prior to establishing Infinedi, Hegenbart was Senior Managing Director and Portfolio Manager of Harvest Partners, SCF, which was founded through a partnership between Mr. Hegenbart and Harvest Partners, LP. While at Harvest Partners, SCF, he successfully raised and deployed a USD376 million Fund I.
“Many entrepreneurs, who believe that wealth is created by being contrarian, have approached us to explore partnerships that will allow them to take advantage of dislocation in their industry. We look forward to publicly announcing investments in the near future which can serve as additional case studies for types of creative partnerships we offer to founder-owners,” adds Hegenbart.
Messrs Hegenbart and Harned have joined the Board of CEA and Jordan Portner from Infinedi also worked on the transaction. Dickinson Wright LLP served as legal counsel to Infinedi, Dechert LLP served as legal counsel to Infinedi Partners investment funds and DLA Piper LLP represented CEA.
This announcement appears as a matter of record only. This does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any current or future Infinedi Partners fund.
