June 11, 2018 / 4:10 PM / 10 days ago

Neuberger Berman to buy 25 percent stake in Brazil college Uniasselvi

SAO PAULO (Reuters) - U.S.-based investment firm Neuberger Berman LLC is close to acquiring a 25 percent stake in Brazilian college Uniasselvi for $100 million, one source with knowledge of the matter told Reuters.

Part of the proceeds will be used by Uniasselvi, which offers distance learning courses, to expand its business through acquisitions and to open new distance learning centers. Uniasselvi has 185,000 students.

Uniasselvi’s shareholders, buyout companies Carlyle Group LP and Brazil’s Vinci Partners Investimentos Ltda, will sell part of their stakes to Neuberger, the source added, asking for anonymity because the source was not authorized to discuss the matter publicly.

Carlyle, Vinci, Neuberger Berman and Uniasselvi did not immediately comment on the matter.

Newspaper Valor Econômico reported earlier on Monday that Neuberger Berman had acquired a stake in Uniasselvi.

Reporting by Carolina Mandl; Editing by Steve Orlofsky

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