Singapore, July 9: New York-listed Apollo Global Management Inc. Has doubled its capital commitment to the Global Schools Group (GSG), which aims to spend USD 1.5-USD 2 billion over the next few years on mergers and acquisition of Ivy League K12 schools.
Apollo is doubling its initially provided long-term funding in 2021, enabling GSG to ramp up its investments over USD 650 million and to complete initial transactions in the European and UK markets while consolidating its existing presence in Asia and the Middle East, GSG’s Indian-origin parent group Global Schools Foundation (GSF) announced on Saturday.
“The expectation is to further deploy USD 1.5 to 2 billion over the next few years, accelerating the company’s global expansion through merger and acquisition of leading, super-premium, and Ivy League K12 schools,” GSF said.
In the past three years, GSG has completed over 25 acquisitions, enrolling over 20,000 students across Asia and the Middle East.
Recent transactions include the 100 per cent acquisition of Dwight School Seoul, South Korea; Glendale Academy, Hyderabad; Silveroaks International School, India; Vikaasa Schools, Madurai, India; Regent International Schools, Malaysia; CISM, Philippines; and Harrods International Academy, Cambodia.
GSF chairman Atul Temurnikar said, “GSF aspires to become one of the top five leading K12 platforms in the world. Apollo’s hybrid value business was a perfect capital solution for our long-term needs.”
Mathew Michellini, partner and head of Apollo Asia Pacific, said “Funds within Apollo’s hybrid value strategy have committed to upsize their existing investment in Singapore-based education company GSG to help accelerate the company’s global expansion.”
Gaurav Pant, partner at Apollo Singapore said, “GSG has shown tremendous leadership and vision in executing an Asia-led global education platform. The team is passionate about creating and delivering the best learning outcomes for all our students wherever they are globally.”
“And Apollo is truly fortunate to play our part in this transformational journey,” he said.
A portion of the capital is committed to the Global Village in Singapore, 6,00,000 sq ft of built-to-suit futuristic educational space accommodating two super-advanced international schools — Global Indian International School and One World International School.
In 2021, GSG was recognised as the ‘World’s Most Awarded Network of Schools’ by the UK-based World Book of Records, having received over 500 awards for innovation, green initiatives, and performance and business excellence.
GSG’s strengths lie in using proprietary learning technology and incorporating data analytics and artificial intelligence to accelerate students’ learning outcomes.
Founded in 2002, the Singapore-headquartered GSF is a community-oriented education institution that has grown to 40,000 students across 40 campuses in 11 countries in the UK, Asia and the Middle East in the last two decades. (PTI)
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