Singaporean Wealth Fund Buys Stake in Brazilian Publisher

ABRIL EDUCACAO: GIC, a Singaporean sovereign wealth fund, has acquired a 18.5 percent stake in Brazilian education company, Abril Educacao. Reuters estimates the stake is worth approximately $265 million. Founded in 1950, Abril Educacao is one of the country's largest publishers and also provides learning management systems, courses and prep schools throughout the country. In its press release, GIC says "the investment stems from GIC's belief in the growth potential of the K-12 education market in Brazil." The Singaporean fund also acquired the makers of popular anti-plagiarism software, Turnitin, in June 2014.

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