What role do KWAP and EPF play in this controlling stake acquisition?

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KWAP and EPF are co-investors in The Rise Fund's acquisition of a controlling stake in APU

The Retirement Fund (Incorporated) (KWAP) and the Employees Provident Fund (EPF) are participating as co-investors in the definitive agreement that will see The Rise Fund acquire a controlling stake in Asia Pacific University of Technology and Innovation (APU). This investment is being structured through a share purchase from KV Asia, a private equity fund specializing in mid-market investments within Southeast Asia.
Co-investment alongside The Rise Fund

KWAP and EPF are listed as co-investors alongside The Rise Fund, which is the multi-sector global impact investing platform of US-based private equity firm TPG Inc. The definitive agreement for the acquisition of a controlling stake in APU was signed by The Rise Fund with these entities.
Investment via share purchase

The acquisition of APU by The Rise Fund and its co-investors is to be executed through a share purchase from KV Asia. KV Asia is identified as a leading private equity fund with a focus on mid-market investments across the Southeast Asian region.
APU's significance in education investments

This transaction marks The Rise Fund's second education-related investment in Malaysia, following a prior agreement to acquire the International Medical University announced in June 2022. These investments contribute to The Rise Fund's expanding portfolio in tertiary education, which also includes entities such as InStride and the Center for Education and Access in the United States.

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What role do KWAP and EPF play in this controlling stake acquisition?

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