KKR Invests in PHINMA Education in Milestone First Global Impact Investment in the Philippines

PHINMA Education

Global investment firm KKR and PHINMA Education Holdings, Inc., a major private higher education group in the Philippines, announced on Wednesday the signing of definitive agreements for KKR to invest in PHINMA Education.

Existing shareholder Kaizenvest will also participate in the investment, while PHINMA Corporation will remain the majority shareholder.

PHINMA Education, founded in 2004, provides quality, affordable tertiary education to underserved youth, offering professional and vocational training to support gainful employment.

The company serves around 150,000 students across a network of colleges and universities in the Philippines and Indonesia.

KKR is making this investment through its Global Impact Fund II, which focuses on companies that contribute to the United Nations Sustainable Development Goals (SDGs). PHINMA Education’s mission aligns with SDG 4, which promotes quality education.

“PHINMA Education’s mission of delivering quality, affordable education to underserved communities aligns strongly with our Global Impact strategy,” said George Aitken, Managing Director and Head of Global Impact for Asia Pacific at KKR. “We will leverage KKR’s experience in education investments to help scale the company and establish it as a leading education platform in Southeast Asia.”

Ramon R. del Rosario, Jr., Chairman and CEO of PHINMA Corporation, emphasized the company’s commitment to improving the lives of young Filipinos.

“This collaboration with KKR enhances our ability to serve and uplift the youth in the Philippines and Southeast Asia,” he said.

Dr. Chito B. Salazar, President and CEO of PHINMA Education, noted the ongoing need to reach more students and make college education accessible.

“KKR’s investment will help us scale our systems, enter new markets, and empower our students to achieve the future they deserve,” he said.

The transaction is expected to close in the third quarter of 2024, pending approval from the Philippine Competition Commission.

PHINMA Education marks KKR Global Impact’s latest investment in education and workforce development, joining other investments such as EQuest Education in Vietnam, Education Perfect in Australia and New Zealand, Graduation Alliance in the United States, Lightcast in the United States, and Master Distancia in Spain, Portugal, and Italy.