New Silk Route invests in Varsity Education Management

MUMBAI (Reuters) – New Silk Route Partners, an Asia-focused private equity fund, said on Tuesday it picked a significant minority stake in educational support services provider Varsity Education Management Pvt Ltd for an undisclosed sum.
The Hyderabad-based Varsity Education provides operational and support services to educational institutes across Karnataka, Andhra Pradesh, Maharashtra and Tamil Nadu, the fund said in a statement.
“Education is another great sector, if you are an investor and intending to capture India’s growing consumer story,” said Jacob Kurian, one of the partners of the fund.
Private equity funds invested have invested $10.58 billion of capital across 501 deals in 2011, up more than a fifth compared to $8.47 billion across 416 deals in 2010, according to data from industry tracker VCCircle.com.
The investment in Varsity would be New Silk Route’s second investment in the educational sector. The fund, which manages more than $1.4 billion, has invested in the Lahore-headquartered Pakistani firm, Beaconhouse, one of the world’s largest primary and secondary education chains, it said.
(Reporting by Indulal PM; Editing by Harish Nambiar)
http://tourism9.cm/    http://vkins.com/