This marks the completion of Kaizenvest’s share in the P4.5 billion investment agreement signed on May 22, 2024 with Phoenix Investments II Pte. Ltd. (a KKR-managed fund vehicle) and Kaizenvest III.
The deal involved both a primary investment through newly issued shares and a secondary acquisition of all PEHI shares held by earlier investors—Asian Development Bank (ADB), FMO, and Kaizenvest II.
PHINMA previously disclosed the receipt of P2.52 billion from KKR on October 4, 2024, representing 70.22 percent of its total P3.59 billion commitment.
KKR also acquired all of the shares held by ADB, FMO, and Kaizenvest II in PEHI, which were originally invested in 2019.
Following these tranches, PHINMA Education remains a 63.93 percent-owned subsidiary of PHINMA Corp., holding its group’s education investments.
—Edited by Miguel R. Camus
