KKR & Co. Inc. (NYSE:KKR) is all set to sell its education portfolio in India - Lighthouse Learning Private Limited (formerly Eurokids International). KKR has hired JP Morgan and Avendus to run the sale process, which is expected to be launched by next week, said two sources aware of the development.

KKR, which wanted to exit its 5-year old investment, eyes a valuation of $1 billion - $1.2 billion (INR 100.00 billion). Alpha Asia Holdings II Pte Ltd. (investment arm of KKR) holds 94.53% in the holding company Lighthouse Learning, while Co-Founder & Chief Executive Officer Prajodh Rajan holds the balance 5.47% stake. Lighthouse, one among the educational groups, has seen interests from global educational institutions based out of the Middle East, Europe as well as PE buyout funds, added sources.

When contacted, KKR, Prajodh Rajan, JP Morgan, Avendus declined to comment., which had put its Indian school chain Lighthouse Learning (formerly Eurokids International) on the block, has dropped its selloff plans since it sees significant upside in the education sector at a time when multiple ed-tech unicorns are facing severe headwinds, said people aware of the development. They said KKR had just sent preliminary feelers to buyout funds and educational groups based out of West Asia and Europe to sell its five-year-old portfolio company, having hired JP Morgan and A vendus to run the sale process earlier this year. However, no financial details and other operational details were shared as the fund decided on the Uturn.