Global investment company KKR completed its investment in PHINMA Education Holdings Inc. which runs a network of schools serving more than 150,000 students across the Philippines.
PHINMA Education is the education arm of Filipino conglomerate PHINMA Corp.
“The transaction, first announced in May 2024, has closed following the completion of the customary regulatory approvals,” PHINMA Education said in a statement.
“We have already started working together in several areas,” said Dr. Chito B. Salazar, president and chief executive of PHINMA Education.
“We are leveraging KKR’s global experience and networks to help us improve our completion rates, refine growth strategies, and reach more underserved students,” said Salazar.
The company did not disclose the transaction value.
“In the months since we began this process, KKR has shared their resources and expertise with us to make headway on what matters most – making lives better through education,” said KKR country chief for the Philippines Happy Tan.
Areas of collaboration include efforts for digital transformation and ESG, the two companies said.
PHINMA Education started operating in the education services sector in 2004 through the acquisition of PHINMA Araullo University in Nueva Ecija.
It has since expanded its presence across the Philippines, serving more than 150,000 students across a school network.
The network includes PHINMA Cagayan de Oro College, PHINMA University of Pangasinan, PHINMA University of Iloilo, Southwestern University PHINMA in Cebu City, PHINMA Saint Jude College in Manila, PHINMA Republican College in Quezon City, PHINMA Rizal College of Laguna and PHINMA Union College of Laguna.
The company said it also aims to expand across Southeast Asia beginning with Horizon Education in Indonesia.
