The Carlyle Group and Vinci Partners complete acquisition of Brazil education company Uniasselvi
São Paulo – The Carlyle Group (NASDAQ: CG), a global alternative asset manager, and Vinci Partners, an independent asset manager in Brazil, announce that the agreement for the acquisition of stock in distance-learning education company Uniasselvi by funds managed by both firms was concluded today. On March 1, control of Uniasselvi, which previously was owned by the group Kroton Educacional, will be transferred to funds managed by Carlyle and Vinci
The proceeds for the investment came from funds managed by Carlyle South America Buyout Fund and Fundo Brasil de Internacionalização de Empresas II FIP (FBIE II), a local fund advised by Carlyle and Banco do Brasil, and from Vinci Capital Partners II, of Vinci Partners. No additional financial conditions were disclosed.
Founded in 1997, Uniasselvi has more than 112,000 students enrolled in its undergraduate and graduate programs. The company operates in the distance-learning education segment, where it is the fourth largest player in Brazil, with 48 centers in various states, and in the on-campus education segment, with seven campuses located in the state of Santa Catarina, where it is the largest institution of higher learning.
In addition to academic quality (the institution offers the only two distance-learning undergraduate programs to have received a top score of 5 from the Ministry of Education), Uniasselvi is recognized for its operations in the undergraduate distance learning segment using a blended format, in which students learn through both online and on-campus activities, the latter conducted once a week in classrooms located at the distance-learning centers with the support of a tutor-professor.
Fernando Borges, co-head of Carlyle South America Buyout Fund, explains that the acquisition is part of Carlyle’s growth strategy in Brazil. “We seek out companies that have the capacity to offer services that remain essential to Brazilians. This is Carlyle’s first investment in Brazil’s education industry, whose fundamentals remain promising. The partnership with Vinci is another positive aspect of the investment.”
According to Edson Peli, the member of the Carlyle South America Buyout Fund responsible for the investment, “Uniasselvi is a strategic asset in Brazil’s post-secondary education sector with important competitive advantages, such as a unique blended academic model, brand strength, seasoned management team and significant potential for growth and value creation.”
“We aim to create a new player in the industry. We’re very excited with our partnership with Carlyle and will work together to achieve this goal,” said Carlos Eduardo Martins, the partner at Vinci responsible for the investment. Martins also emphasized that, “the education industry will continue to grow in the coming years, with penetration in Brazil below that of other countries in similar development stages.”
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ABOUT THE CARLYLE GROUP
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $183 billion of assets under management across 126 funds and 160 fund of funds vehicles as of December 31, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700 people in 36 offices across six continents.
ABOUT VINCI PARTNERS
Vinci Partners is an alternative investment platform specializing in asset management, wealth management and financial advisory, with an independent model that is unique in Brazil. Vinci was founded in October 2009 by a group of managers with extensive financial market experience from the Alternative Investment Management wing of UBS Pactual Capital Partners, created in 2001 to manage the investments of the partners of Banco Pactual.
Vinci currently manages R$21 billion in private equity, real estate, equities and credit funds. If the companies in which Vinci holds shareholding interest through its private equity funds represented a single business group, it would account for annual gross revenue of R$15 billion and directly employ more than 30,000 people.
Since 2004, Vinci Partners has invested in more than 40 companies. Vinci Partners currently manages two Private Equity funds: an asset portfolio that consists of US$592 million in proprietary investments and Vinci Capital Partners II, LP with committed capital of US$1.4 billion and a diverse base of Brazilian and foreign investors.
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