Carlyle, New York Life PE in talks to invest $100 million in parent, arms.

Everonn Education, India’s largest technology-enabled education firm, is getting ready to enroll more global marquee investors.

Two months after the Dubai-based Varkey Group came on board, global private equity majors — Carlyle Group and New York Life Capital Partners — are in advance talks with the company to pick up a stake, said two people following the development. Once completed, it could be the largest private equity (PE) investment in the Indian education space till date.

According to these sources, the initial diligence is over and negotiations are underway to formalise the final deal structure, which may see an investment of over Rs 500 crore ($100 million) through a combination of primary and secondary market transactions.

Everonn’s promoters are likely to dilute their stake in the company and may even issue fresh shares to these two new financial investors. Carlyle and New York Life Capital are likely to invest in the listed company – Everonn Education — and may also pick up strategic stakes in the underlying subsidiaries Everonn Medical Education and Everonn Skill Development.

Everonn Skill Development is a joint venture between the company and National Skill Development Corporation, which has a 27 per cent stake. Everonn owns the residual 73 per cent. For more visit: Business Standard

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