Altas, Baring take stake in Grenada's St. George University

HONG KONG Fri Aug 8, 2014 7:18am EDT

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HONG KONG (Reuters) - Canadian private equity firm Altas Partners LP and pan Asia firm Baring Private Equity Asia have acquired a substantial stake in St George's University in Grenada, the university said on Friday.

Terms of the deal were not disclosed, but St George's, a medical university, received $750 million for the stake, the Wall Street Journal reported on Friday.

Founded in 1976, St. George's has more than 14,000 graduates including physicians, veterinarians, scientists, and public health and business professionals across the world.

St George's graduates often become medical residents in the United States and the UK.

The money is expected to help St George's expand its business globally, including in Asia.

Baring Private Equity, which has over $5 billion in assets, has education interests including Nord Anglia (NORD.N), PSB Academy and EduCo.

(Reporting by Stephen Aldred; Editing by Mark Potter)

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