Blackstone, a leading global investment firm, is reportedly close to finalizing a deal to acquire some of Dulwich College International’s assets in Asia. This acquisition, valued at approximately US$600 million, highlights the growing interest of buyout firms in the educational landscape, particularly in lucrative markets like Singapore and South Korea.
According to sources familiar with the matter, the deal involves the purchase of Dulwich College’s campuses in Singapore and Seoul but excludes the institutions in China. The negotiations are in an advanced stage, although the final terms and valuation are still under discussion. This strategic move by Blackstone underscores its commitment to expanding its footprint in the education sector, which continues to attract significant investment due to its stable and promising returns.
Dulwich College, a prestigious British educational institution with a history spanning over 400 years, has established a strong international presence since opening its first overseas school in Shanghai in 2003. The Singapore campus, which started in 2014, and the Seoul campus, established in 2010, are part of this expanding network. These schools cater predominantly to expatriates and affluent local families, with annual fees reaching up to $54,000 in Singapore and approximately 39.6 million won in Seoul.
The acquisition is part of Blackstone’s broader strategy to not only consolidate its presence in the Asian education market but also to explore new opportunities in the Middle East and potentially in India and Thailand. This aligns with the firm’s objective to tap into the growing demand for premium international education in these regions.
Post-acquisition, Blackstone plans to leverage the Dulwich brand to expand into new territories, including the Middle East, where there is a significant influx of professionals. This move is indicative of the firm’s proactive approach to capitalizing on emerging market trends and the increasing globalization of education. The management of Education in Motion, the current operators of the Dulwich schools in Singapore and Seoul, is expected to stay on, ensuring continuity and stability in the schools’ operations and educational ethos.
The economic implications of this deal are substantial. It not only underscores the high value placed on educational assets but also reflects the confidence in the growth potential of the international education sector. For the regions involved, particularly Singapore and Seoul, this acquisition is likely to bolster the local education landscape by bringing in additional resources and expertise. Moreover, it could set a precedent for further foreign investments in the sector, potentially elevating the quality and competitiveness of education in these markets.
Blackstone’s impending acquisition of Dulwich College’s assets in Singapore and Seoul is a testament to the dynamic nature of the global education market. It highlights the strategic importance of international schools as valuable investments and their role in shaping global education standards. As negotiations continue, the education sector is keenly watching what could be one of the most significant buyouts in recent times, promising new growth avenues and enhanced educational offerings for students in Asia and beyond.
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