Growing portfolio: APU’s campus in Technology Park Malaysia, Bukit Jalil. APU is The Rise Fund’s second education investment in Malaysia, following its signing of a transaction to acquire the International Medical University that was announced in June 2022.
KUALA LUMPUR: The Rise Fund, a multi-sector global impact investing platform of the United States-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 (Inc) and Employees Provident Fund, Bernama reported.
“The investment will be structured through a share purchase from KV Asia, a leading private equity fund focused on mid-market investments across South-East Asia,” it said in a statement.
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 that was announced in June 2022.
“These build on The Rise Fund’s growing tertiary education portfolio, which includes InStride and the Centre for Education and Access in the United States,” it said.
The statement did not provide details on the size of the stake or the acquisition cost.
Founded in 1993, APU is a premier private university with a unique focus on technology, innovation and creativity, providing high-quality, affordable and internationally recognised education and research for local and overseas students.
With a fast-growing enrollment and a 100% employability rate for its graduates, the university now serves a student community of about 13,000 with a diverse representation of nationalities from about 130 countries. — Bernama
