Consortium takes controlling stake in APU

Growing portfolio: APU’s campus in Technology Park Malaysia, Bukit Jalil. APU is The Rise Fund’s second education investment in Malaysia, following its signing of a transaction to acquire the International Medical University that was announced in June 2022.

KUALA LUMPUR: The Rise Fund, a multi-sector global impact investing platform of the United States-based private equity firm TPG Inc, has signed a definitive agreement to acquire a controlling stake in Asia Pacific University of Technology and Innovation (APU).

TPG said the agreement was signed with its co-investors including the Retirement Fund (Inc) and Employees Provident Fund, Bernama reported.