Student visa giant Study Group secures reprieve with new funding

One of the largest sponsors of planetary students astatine British universities has landed tens of millions of pounds of caller backing from 2 large concern firms.

Sky News has learnt that Study Group, which was acquired by the French backstage equity radical Ardian successful 2019, has sealed a woody which volition spot it go majority-owned by Intermediate Capital Group (ICG) and Bain Capital.

City sources said the 2 firms were injecting a important sum into the company, with Ardian remaining progressive arsenic a number shareholder.

The recapitalisation of Study Group comes aft a challenging play for the company, amid increasing scrutiny implicit the fig of overseas students who spell connected to assertion asylum.

Money blog: Top cook connected overrated inclination helium doesn't get

It emerged past twelvemonth that much than 800 students for which it had secured visas successful the UK had aboriginal claimed asylum.

Sources adjacent to Study Group's fiscal restructuring insisted, however, that its caller majority-owners were "highly optimistic" astir its prospects.

The institution is said to person won a fig of important caller contracts recently, though details of these were unclear.

Responding to an enquiry from Sky News, a spokesperson for ICG said: "Bain Capital and ICG volition summation their existing involvement successful starring planetary acquisition provider, Study Group, partnering with existing shareholder, Ardian, who volition clasp a involvement successful the business.

"This caller concern underpins Bain Capital and ICG's condemnation successful Study Group's ambitious maturation programme and outstanding absorption team."

Ardian is said to person injected further backing into the concern connected 2 abstracted occasions.

At the clip of its acquisition of Study Group, it said it supported 30,000 students from much than 140 countries each year.

The institution prepares planetary students for undergraduate courses astatine starring English-speaking universities by teaching them world and connection skills.

In 2023, it sold its Australian operations to Navitas, a multinational acquisition group.

A spokesperson for Ardian has been contacted for comment.