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KKR to acquire majority stake in ANZ education technology company

KKR (NYSE:KKR) agrees to acquire a majority stake in Australian and New Zealand education technology company Education Perfect (EP) through its strategy that’s focused on advancing the United Nation’s Sustainable Goals.

Terms of the transaction weren’t disclosed.

KKR will make the investment from its Global Impact Fund, a strategy focused on investing in market-leading companies whose business contributes toward the UN’s Sustainable Goals initiative.

EP’s business contributes toward SDG 4 (Quality Eduation) by providing accessible, affordable, and high-quality education around the world, KKR said in a statement.

Private equity firm Five V Capital, which invested in EP in 2017, will remain a shareholder along with EP’s management team and co-founders Craig and Shane Smith.

“Digital transformation in K-12 education is at an early stage compared to other industries, and EP is well-positioned to drive this on a larger, global scale,” said George Aitken, a director at KKR.