Bertelsmann sets up Brazil fund in education push

Harro ten Wolde and Georgina Prodhan – Reuters, 7/16/2015

German media company Bertelsmann is putting up as much as 100 million euros ($109 million) to set up a fund to invest in education companies in Brazil, it said on Thursday.

Bertelsmann wants to make education a third pillar of its business alongside media and services, aiming to grab a billion-euro slice of the fragmented $5.5 trillion global market in which the biggest single player is Britain’s Pearson .

Europe’s largest media group, which controls broadcaster RTL and book publisher Penguin Random House, said it would take nearly 40 percent in the fund with a target endowment of 800 million Brazilian real ($255 million).

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