TPG-led consortium buys controlling stake in Malaysian university

U.S. private equity giant has $135bn of assets under management

20230220 Asia Pacific University of Technology and Innovation

Students in a class at Asia Pacific University of Technology and Innovation. © Asia Pacific University of Technology and Innovation

MARS W. MOSQUEDA JR., DealStreetAsia

February 20, 2023 13:31 JST

CEBU, Philippines -- The Rise Fund, the global impact investing platform of private equity giant TPG, said it has led a consortium of investors in acquiring a controlling stake in Malaysia's Asia Pacific University of Technology and Innovation (APU).

The announcement did not disclose financial details of the acquisition, but a Reuters report quoting sources with knowledge of the matter said the deal could be worth more than $300 million.