The Canada Pension Plan Investment Board (CPPIB) and Baring Private Equity Asia have signed a deal to take Nord Anglia Education private in a transaction that values the international school company at US$4.3 billion, including debt.
Hong Kong-based Nord Anglia has 43 schools that teach a total of 37,000 students from kindergarten through to the end of high school in China, Europe, the Middle East, North America and Southeast Asia.
CPPIB said the deal is its first direct equity investment in private education.
CPPIB manages investments on behalf of the Canada Pension Plan.
Baring Private Equity Asia controls 67% of Nord Anglia.
Funds affiliated with the investment manager have been investors in Nord Anglia since August 2008 when they completed a previous privatization transaction with company management.
The transaction is subject to shareholder approval and customary closing conditions.