The Carlyle Group (CAGP), a Washington D.C. based global private
equity investment firm, invested US$20 million in NeWorld Education
Group, a private education company headquartered in Shanghai, the
two companies announced on September 4.
This is the first time for the CAGP to enter into China's
education market. According to a citation in the CAGP's official
website by Wayne Tsou, the managing director and head of the CAGP
Asia Venture Team, the company likes the resilient nature of
China's education market, which often grows regardless of economic
cycles. Tsou expects a 30-percent annual growth to propel NeWorld's
market to hit US$1 billion, according to Oriental Morning
Post, but the report failed to give a specific timetable
regarding market development.
NeWorld Education Group, covering language and job training
programs, is going to expand its business to more than 120 schools
in 18 to 20 cities in China by 2009. So far, the company has 65
schools in China's 13 cities, including Ningbo, Guangzhou and
Shenzhen.
The CAGP has invested in four Chinese companies in addition to
NeWorld Education Group since June of last year, when the equity
firm collected US$680 million.
For more details, please read the full story in Chinese
(
http://www.dfdaily.com/node2/node27/node120/userobject1ai26417.shtml
).
(China.org.cn by Wu Jin, September 5, 2007)
