India: Edu infra fund Cerestra to acquire K-12 school from Jain Group for $35m

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Cerestra, an educational infrastructure focused fund promoted by Religare Enterprises, is acquiring the real estate portfolio of K-12 schools from Bengaluru-based Jain Group of Institutions (JGI), as per a report in The Times of India.

The fund will acquire 74% stake in the real estate assets of these schools, promoted by Chenraj Jain’s Arka Eduserve, a wholly owned subsidiary of JGI – in two tranches for roughly $35 million (Rs 240 crore), the report added.

The acquisition will aid Cerestra’s future plan to build a network of schools and eventually list them on the stock exchanges through a specialist real estate investment trust. The fund typically invests in education infrastructure assets, primarily land and building of education institutions operating in K-12 segment.

The fund will initially acquire assets of six institutions in Karnataka, Maharashtra and Madhya Pradesh, and another six beginning June. The deal will also give Jain an option to explore a buyback of assets after 10 years, providing an 18% return for the investor, the report said.

Cerestra, with a targeted initial corpus of Rs 1,000 crore, is also in talks with other school chains like GEMS and Zee-owned Mount Litera to build a portfolio of educational assets.

Also Read: India: Tree House investors get a raw deal on pre-school chain’s merger with Zee Learn

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.