US global investment firm KKR invested in Vietnamese educational services provider EQuest Education Group, announced EQuest on June 1.

Focusing on four core segments including K-12 bilingual schools, tertiary and vocational institutions, English enrichment courses, and digital learning solutions, EQuest said the investment would help to support its expansion, aiming to provide local students with affordable access to world-class education.

Nguyễn Quốc Toàn, co-founder and CEO of EQuest, said: "Access to high-quality education and intensive English-language training is crucial for Vietnamese students to achieve their full potential. By making the access affordable at a disruptive cost, EQuest is committed to delivering world-class education and bringing accredited, world-class curriculum to more Vietnamese students to improve their competitiveness in the global arena."

He added: "With the support of KKR and its sector expertise, we are confident we will be able to advance our mission to provide quality learning for Việt Nam’s millions of students and contribute to the development of a skilled workforce that will support the country’s long-term growth aspirations.”

Ashish Shastry, Co-Head of Asia Private Equity and Head of Southeast Asia at KKR, said: "Investing in Việt Nam and supporting the growth of the country’s businesses and industries is a key part of KKR’s strategy in Asia. As Việt Nam continues to elevate on the world’s economic stage, access to affordable, high-quality education solutions plays an important role in meeting the nation’s objectives. We are excited to invest in EQuest and to support aspiring Vietnamese entrepreneurs like Toàn – as well as EQuest’s talented team – to help realise their vision for closing the education gap in the country.”

Curently, Equest’s K-12 portfolio has served more than 9,000 students in 8 campuses, gaining a strong reputation in the country. With more than 110,000 students enrolled each year, the firm is considered one of the largest private educational services providers in Việt Nam.

KKR is a leading global investment firm with US$367 billion of assets under management as of March 31, 2021. — VNS