Value Partners unit eyes education fund

Business | Janice Huang 3 Jul 2018

Value Partners Group (0806), chaired by Cheah Cheng Hye - dubbed "Goldfinger" and the "Asian Warren Buffett" - announced that its subsidiary has partnered with a unit of China Education Group Holdings to establish a private equity fund focusing on the Chinese education sector.

The two subsidiaries, Value Partners Private Equity Investment (Shen Zhen) and Huajiao Education Technology (Jiangxi) are involved in the agreement.

The fund will be the inaugural fund of VP Shenzhen, which is located in the Qianhai Special Economic Zone and is licensed to raise funds in the mainland and overseas to invest in private equity projects in China.

Meanwhile, the fund will invest in private higher and vocational education in the mainland, with a focus on control investments. It has a target Asset Under Management of 5 billion yuan (HK$5.88 billion) and a term of five years, extendable for two additional one-year terms.

Value Partners and China Education Group will be limited partners, while a subsidiary of each of Value Partners and China Education Group will serve as co-general partners. The co-general partners will continue to look for limited partners to invest in the fund.

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