One of the largest sponsors of international students in British universities has won tens of millions of new funding for two major investment companies.
Sky News learned that the study group, which was acquired by the French Investment Capital Group in 2019, concluded an agreement which will see it become mainly held by Intermediate Capital Group (ICG) and Bain Capital.
City sources have declared that the two companies inject a substantial sum into the company, Ardian remaining involved as a minority action.
The recapitalization of the study group comes after a difficult period for the company, in the midst of an in -depth examination on the number of foreign students who claim asylum.
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Last year, it appeared that more than 800 students for whom he had obtained visas in the United Kingdom then claimed the asylum.
Sources close to the financial restructuring of the study group, however, insisted that its new majority owners were “very optimistic” as to its prospects.
The company would have won a number of new important contracts recently, although the details are not clear.
Responding to a Sky News investigation, an ICG spokesperson said: “Bain Capital et ICG will increase their existing participation in the main international education provider, study group, in partnership with the existing shareholder, Ardian, who will retain participation in the company.
“This new investment underpins Bain Capital and the conviction of the ICG in the ambitious growth program of the study group and the exceptional management team.”
Ardian would have injected additional funding into the company twice.
At the time of his acquisition as a study group, he said he had supported 30,000 students from more than 140 countries each year.
The company prepares international students for undergraduate lessons in major English -speaking universities by teaching them academic and linguistic skills.
In 2023, he sold his Australian operations in Navitas, a multinational education group.
An Ardian spokesperson was contacted for comments.