Blackstone Inc. (NYSE:BX) is in advanced talks to buy a majority stake in Jaipur-based Globetrotters Educational Innoventions Private Limited, the parent of Jayshree Periwal International School (JPIS), sources told us. Blackstone plans to use this investment as the foundation for a larger education platform in India, with an eventual outlay of $600 million-$700 million. The proposed Globetrotters acquisition is estimated at $150 million-$200 million.
After the acquisition, Blackstone intends to expand JPIS beyond Rajasthan. The schools will continue under the existing leadership of founder Jayshree Periwal and CEO Ayush Periwal.
