Morgan Stanley’s private equity arm has sold its majority stake in childcare and education business Learning Care Group.
The firm picked up a 60 per cent stake in the business just over six years ago for about $700m, with then owner ABC Learning Centres keeping a 40 per cent stake.
Financial details of the exit were not disclosed.
The company focuses on the care and education of children between the ages of six weeks and 12 years, and is present in more than 900 schools across the US.
MSGPE managing director and operating partner Jim Howland said, “We are pleased with the outcome of this investment, which was the result of partnering Morgan Stanley Global Private Equity’s operating-focused investment strategy with world-class executives to build a leading provider of early childhood education.”
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