TPG, Investcorp Near $1 Billion Deal for UK Education Group (2)

TPG Inc.is nearing a deal to acquire UK special educational needs provider Outcomes First Group, people with knowledge of the matter said.

Rise Fund, the private equity firm’s impact investing arm, beat out other bidders for the business, according to the people. The purchase is set to value Outcomes First at around $1 billion, the people said, asking not to be identified because the information is private.

Middle Eastern alternative asset manager Investcorp will become a significant minority investor in Outcomes First through the transaction and have a representative on its board, the people said.

Outcomes First is ...