KKR has invested in Tarena International, a provider of professional education services. KKR’s equity represents an approximately 13% stake in the company.
Tarena’s (NASDAQ:TEDU) teaching platform includes live distance instruction, classroom-based tutoring and online learning modules. The school offers ten IT subjects and three non-IT subjects (digital art, online sales and marketing, and accounting). Since its founding in 2002 by Shaoyun Han, Tarena has trained over 200,000 students and placed students with approximately 54,000 corporate employers in a variety of industries. The company is based in Beijing (ir.tarena.com.cn).
KKR’s investment recognizes the opportunities in China’s professional training market. In 2014, the industry reached $12 billion, according to IDC, representing a CAGR of more than 11% over the past four years. However, the sector represents just 0.12% of China’s GDP, compared to 0.32% and 0.22% in the US and Taiwan, respectively. “Taren is a great company and a leader in its field with an excellent management team. We are very impressed with the company’s strong track record and its potential for future growth. We look forward to leveraging our global network and local experience to help Tarena capture new market opportunities,” said Julian Wolhardt, Member of KKR.
KKR makes private equity, fixed income and other investments in companies in North America, Europe, Asia and the Middle East. KKR has extensive experience in the education sector having invested in Laureate International Universities and Cognita Schools. The firm has $90 billion in assets under management. KKR was founded in 1976 and in addition to its New York headquarters the firm has offices in Menlo Park, San Francisco, Houston, Washington DC, London, Paris, Hong Kong, Tokyo, Beijing, Mumbai, Dubai and Sydney (www.kkr.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-22-15