TPG/Satya, the partnership between TPG Growth and Satya Capital focused on investment in Africa, has made its first move into Africa by acquiring a minority stake in Ecoles Yassamine, the largest private school network in Morocco.

Terms of the transaction were not disclosed.

Bill McGlashan, Founder and Managing Partner of TPG Growth, said: “Our investment in Ecoles Yassamine represents the first step in capitalizing on the immense growth opportunity for companies across Africa.”

“Working with Satya, we are focused on finding opportunities to help grow exciting companies like Ecoles Yassamine that are in a unique position to benefit from the macro/micro and long-term approach of our partnership,” he added.

The investment will provide growth capital and allow Ecoles Yassamine to expand and improve the quality of the education they provide, and to export their know-how to other African countries.

The partnership will utilize Satya's African expertise and TPG Growth's global expertise and network to help Ecoles Yassamine offer world-class education to more students in Morocco, and in the future to students in other African countries.

Tsega Gebreyes, Managing Partner of TPG/Satya, said Morocco is one of the faster-growing economies in Africa, and with that comes a demand for increased access to quality education: “By investing in Ecoles Yassamine, we have found a partner that is uniquely positioned to meet that growing demand.”

Mo Ibrahim, Founding Chairman of Satya, added: “Access to quality education is undoubtedly what has pushed some of the most powerful economies forward, and I'm very enthusiastic about what Ecoles Yassamine's expansion means for Morocco, as well as the larger effect it can have on the expansion of education throughout all of Africa.”

“I couldn't be happier that our first investment as TPG/Satya is a fundamental building block for the African economy overall,” he said.

Founded in 1986 by Mohamed Benyahia and Najia Kabbaj, Ecoles Yassamine is the largest network of schools in Morocco with five entities, more than 6,000 students, and 700 teachers and support staff.

TPG/Satya will work closely with Mr. Benyahia and Ecoles Yassamine, to offer students an education that meets internationally-observed standards and best practices, through world-class institutional partnerships.

“TPG/Satya's combination of global and local perspective will be critical as we strive toward our goal of offering world-class education to more of the youth in Morocco and in due course bringing our brand and offer to other African countries as well,” commented Benyahia.

“TPG/Satya is the ideal partner to help us grow our network of schools and expand the educational offering to both current and perspective students. We look forward to working with them and leveraging their collective expertise as we continue on our path of growth,” he added.