Lest anyone doubt that Asia holds promise for American higher-education companies, the chief executive officer of Laureate Education Inc., who just engineered a $3.8-billion private-equity buyout of the company, has announced that he will be moving with his family to China in August to head up Laureate’s push in Asia.
In an e-mail message to Laureate employees, the CEO, Douglas Becker, said that Laureate would be establishing a new Asia headquarters in Hong Kong as part of the company’s next chapter. “Over the next year, my goal is to build out our Asia management teams, define our Asia strategy, and add important universities to our network, after which I will return to Baltimore,” Mr. Becker wrote in the message.
Earlier this month, Baltimore-based Laureate announced that stockholders owning 59 percent of the company’s shares had agreed to surrender them in the tender offer, for $62 a share. As of Tuesday, nearly 90 percent of the shares had been tendered, he said.
Mr. Becker devised the transformation of Laureate into an internationally focused higher-education company from its roots as tutoring business called Sylvan Learning Systems.
In his message, Mr. Becker said that the company was pleased to have attracted the likes of Kohlberg Kravis Roberts and Company, Citigroup, the Microsoft co-founder Paul Allen, and the global philanthropist George Soros, as well as the endowment of Harvard University, as investors in “the new Laureate.” —Goldie Blumenstyk





