Foundation Holdings, a UAE-based family investment office, has committed $100 million (about Rs 710 crore) to a managed school platform with the Ryan International Group of Institutions.
The new joint venture platform has been named Ryan EduNation, as per a press statement.
Ryan EduNation has struck its first deal by acquiring a managed school platform from Pearson India Education Services Pvt. Ltd that provides education services to more than 18,000 students.
Ryan International operates 137 schools in 40 cities that house about 270,000 students.
“With $100 million investment committed to Ryan EduNation over the next five years, our ambition is to adopt a scalable partnership model by empowering educational institutions and passionate landowners across India to create a platform of change and impact,” said Aakash Sachdev, managing director at Foundation Holdings.
The new platform comes three years after Foundation Holdings said in 2016 that it was aiming to deploy $275 million over the next five years in healthcare, consumer and education sectors in India.
The investment firm had said earlier this year that it closed its first transaction in India’s education sector. It wasn't immediately clear if the commitment to Ryan is the same deal.