Carlyle Asia Growth Group investing $20 million in Korean hagwon

The Carlyle Group is a global equity fund. A private equity fund, Carlyle Asia Growth Capital Partners III, chose Topia because of all the Korean hagwons (privately owned cram schools that are more numerous than public schools), Topia is the most transparent according to Wayne Tsou (managin director of Carlyle Asia Growth Group).

Topia specializes in English teaching and made about $32 million last year and is expecting 50% groth this year.

This is a summary of a May 4, 2007 JoongAng Daily article by Hwang Young-jin. I’m afraid I don’t have a link for you.

One Response to “Carlyle Asia Growth Group investing $20 million in Korean hagwon”

  1. Sine qua non says:

    I wonder if this equity fund is going to be harrassed by the Korean authorities if they wind up with a healthy return on the risk of their capital.

    There is a recent news item about the Korean tax authorities starting an investigation into Goldman Sacks’ profitable 2005 sale of Jinro.

    This is on top of the witch hunt by the Korean authorities focusing on the Korea Exchange Bank’s proposed sale from the Lone Star private equity group.

    There certainly seems to be a hostility in Korea towards investors who are foreign.