06:03 AM EDT, 10/07/2024 (MT Newswires) -- KKR (KKR) investment vehicle Phoenix Investments completed an initial investment of 2.52 billion Philippine pesos ($44.3 million) into the education arm of Phinma Corp, the Filipino conglomerate said Friday in a regulatory filing.

The initial remittance is about 70% of KKR's total planned investment of 3.59 billion pesos to buy new shares in Phinma Education, Phinma said.

KKR-managed funds have also acquired all shares in Phinma Education that were owned by Asian Development Bank, FMO and Kaizen Private Equity II, according to Phinma.

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