EQT Returns $5.4 Billion to Investors After Education Bet Soars

EQT AB will return $5.4 billion to investors this week after completing the sale of a stake in Nord Anglia Education Ltd., marking one of the most profitable recent private equity exits in Asia, people familiar with the matter said.

The Nord Anglia investment was initially made in 2008. It sold and reinvested again in 2017 through a different fund and has since delivered nearly four times its invested capital, the people said, asking not to be named discussing private details.

A spokesperson in London declined to comment on the fund returns.

The sale comes amid concern about the sluggish ...