Investcorp to buy US education provider

Dubai: Investcorp has agreed to buy a United States schools provider, the Bahrain-listed alternative investment fund said on Monday.

The deal to acquire Nobel Learning, a major private education firm in the US with a network of 176 schools, is in partnership with Mumtalakat, the investment arm of the Bahrain government, Investcorp said in a statement. It did not reveal the value of the deal.

This is Investcorp’s second US purchase this month. On March 17, it announced it had bought a portfolio of residential properties for around $300 million (Dh1.1 billion).

Investcorp is expanding into other sectors after becoming known globally for investing in luxury goods brands, such as Gucci and Tiffany & Co.

In the last year, it has bought into accessories firm Totes Isotoner and software and services firm PRO Unlimited in the US, plus Italian protective clothing maker Dainese.