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Bain Capital boosts Australian childcare center portfolio with A$100M buy

U.S.-based alternative investment firm Bain Capital LP bought a portfolio of 20 childcare centers in Australia from Little Learning School for approximately A$100 million, IPE Real Assets reported.

The deal boosts Bain Capital's Australian childcare asset portfolio to 65, primarily in Sydney and Melbourne. The seller, a private operator, has retained 10 centers and 20 more in its pipeline.

The investment firm entered into this sector Down Under in 2016 via its acquisition of a majority stake in Only About Little Children, which operated more than 40 childcare establishments. This was followed by a stake purchase in Camp Australia, a before- and after-school childcare operator. A source told the publication that the three investments have a total enterprise value of roughly A$800 million.

Bain Capital's push into the sector complemented its US$1.3 billion acquisition of U.S. childcare provider Bright Horizons in 2008, the June 6 report noted.