Global PE Firms Are Said to Eye TPG-Backed School Operator XCL

Private equity firms including Warburg Pincus and KKR & Co. are among potential bidders for Southeast Asian school operator XCL Education, according to people familiar with the matter.

Other alternative asset managers weighing bids for TPG Inc.-owned XCL include Blackstone Inc. and EQT AB, the people said, asking not to be identified discussing confidential information. A transaction could value Singapore-based XCL at as much as $1.5 billion, people familiar with the situation said previously.