Apollo Funds Upsize Its Capital Commitment to Global Schools Group

SINGAPORE, July 24, 2023 (Newswire.com) - Global Schools Foundation's investment arm and its related entities ("Global Schools Group", "GSG") announced that funds managed by affiliates of Apollo Global Management, Inc. have committed to providing approximately S$190 million, nearly doubling their total capital commitment to the Global Schools Group. Apollo funds initially provided long-term funding to Global Schools Group in 2021.

This additional commitment will enable GSG to ramp up its investments over US$650 million and to complete initial transactions in the European and UK markets, whilst consolidating its existing presence in Asia and the Middle East. The Company's expectation is to further deploy US$1.5 to 2 billion over the next few years, accelerating its global expansion through merger and acquisition of leading, super-premium, and Ivy League K12 schools.

In the past three years, GSG has completed over 25 acquisitions, adding over 20,000 students across Asia and the Middle East. Recent transactions include 100% acquisition of Dwight School Seoul, South Korea (Press Release); Glendale Academy Hyderabad, India (Press Release); Silveroaks International School, Bangalore, India (Press Release); Regent International Schools, Malaysia (Press Release); CISM, Philippines (Press Release); Harrods International Academy, Cambodia (Press Release); and Vikaasa Schools, Madurai, India (Press Release). 

In 2021, GSG was recognised as the "World's Most Awarded Network of Schools" by the UK-based World Book of Records, having received over 500 awards for Innovation, Green Initiatives and Business Excellence. GSG's strengths lie in using proprietary learning technology, incorporating data analytics and artificial intelligence into students' learning outcomes. Schools on GSG's platform can expect to benefit from its key learning technologies and innovation capabilities to enhance market position and product development.

A portion of the capital is committed to The Global Village in Singapore, a 600,000 sqft of built-to-suit futuristic educational space accommodating two international schools - Global Indian International School and One World International School. The development is designed to satisfy 21st-century needs and knowledge trends through the use of data analytics in learning and sports facilities. National Geographic featured one of the campuses as a School of the Future. 

Atul Temurnikar, GSF Chairman, said, "GSF aspires to become one of the top five leading K12 platforms in the world. Apollo's Hybrid Value business was a perfect capital solution for our long-term needs."

Matthew Michelini, Partner & Head of Apollo Asia Pacific, said he was "pleased to share that funds within Apollo's Hybrid Value strategy have committed to upsize their existing investment in Singapore-based education company Global Schools Group to help accelerate the company's global expansion."

"We are delighted to upsize our investment in Global Schools Group," said Apollo Partner Mr Gaurav Pant. "GSG has shown tremendous leadership and vision in executing an Asia-led global education platform." 

Founded in 2002, Global Schools Foundation is a Singapore-headquartered, community-oriented education institution whose mission is to nurture young minds into global leaders. The Foundation now has 40,000 students across 40 campuses in 11 countries in the UK, Asia and the Middle East.

Source: Global Schools Foundation