The group of Laureate Education Inc. managers and outside investors who are seeking to buy out the company and take it private have upped their $3.8-billion offer by $1.50 per share.

Laureate, which operates a network of international universities in Asia, Europe, and Latin America, as well as the all-online Walden University, announced the initial buyout offer in January.

The new $62-per-share offer, which the Baltimore-based company’s board has accepted and made public this morning, followed opposition to the original buyout price from three of Laureate’s biggest institutional investors: T. Rowe Price, Select Equity, and Black Rock Inc.

In announcing the new offer, Laureate said that Douglas L. Becker, its chief executive and chairman, would receive the original $60.50-per-share price for his shares, as would R. Christopher Hoehn-Saric, another director, and certain other investors from one of the buyout groups, Sterling Capital Partners. Mr. Becker and Mr. Hoehn-Saric were founders of Laureate’s forerunner company, Sylvan Learnings Systems Inc. —Goldie Blumenstyk