Southeast Asia-focused Dymon Asia Private Equity has invested in Thai education firm TUSK Asia, per an announcement.
TUSK Asia is the holding company for Arthit Ourairat Institute (AOI) schools in Thailand. AOI operates three bilingual K-12 schools, including British International School Phuket (which was established in 1996), SBS Rangsit (in 2004), and SBS International School Chiangmai (2014).
Dymon said AOI has about 2,500 students across these three campuses, with plans to open a new campus in 2025.
Having invested predominantly in Singapore and Malaysia-based companies, Dymon’s managing partner Keith Tan told DealStreetAsia earlier that the firm was looking to expand its presence in Thailand as one of the key focus markets in Southeast Asia.
The firm had earlier invested and then exited Thai healthy vegetable and fruit snacks brand Green Day.
Within the education space in the country, Malaysia-headquartered Navis Capital Partners invested in Ambassador Education, which owns and operates six K-12 schools in Chiang Mai.
Before closing the investment in TUSK Asia, Dymon invested in SGX-listed hospitality management company Amara Holdings Limited this year through a take-private transaction. Amara was listed on the SGX Sesdaq on August 15, 1997, and subsequently transferred to the SGX Mainboard on 10 July 2000.
In 2024, Dymon also divested from Singapore-based information technology services provider ITCS Group Holdings.
DealStreetAsia reported earlier this year that Dymon was looking to raise $500 million for its fourth fund. The firm closed its third vehicle at a hard cap of $650 million in 2022.
Dymon Asia Private Equity is the PE arm of Singapore-based, Asia-focused alternative investment manager Dymon Asia Capital. The PE arm, which has assets under management of $1.3 billion, started in 2012 and has made 29 investments so far, according to its website.
