Has Basis been bought by a Chinese private equity firm with government ties?

[Anonymous]

Thread on the private school forum. Does this cover the charters too?

If so, yikes.

[Anonymous]

Nothing to that effect has been communicated.

BASIS.ed is the CMO for all the BASIS charters and independent schools. So it would potentially mean a change in corporate ownership.

The amount paid to BASIS.ed is negotiated between the DC charter’s Board and BASIS.ed. At least as of a year or so ago BASIS DC paid less for these services than some of the other campuses — in part because of PCSB guidelines and oversight and in part to the DC Boards own position.

[Anonymous]

From message to McLean parents: “BASIS Charter Schools, BASIS.ed, and BASIS Beginners Prague are not a part of the change and will continue with their current ownership. BASIS Charter Schools are still owned by the non-profit BASIS Charter Schools, Inc. BASIS Charter Schools are still managed by BASIS.ed.”

[Anonymous]

Anonymous wrote:From message to McLean parents: “BASIS Charter Schools, BASIS.ed, and BASIS Beginners Prague are not a part of the change and will continue with their current ownership. BASIS Charter Schools are still owned by the non-profit BASIS Charter Schools, Inc. BASIS Charter Schools are still managed by BASIS.ed.”

They sold the Chinese and the US-based independent schools.

[Anonymous]

I think this is good news for the BASIS charters. The private schools were a distraction.

[Anonymous]

Huh? So what schools did the Chinese buy?

[Anonymous]

Anonymous wrote:Huh? So what schools did the Chinese buy?

Basis independent Brooklyn
Basis Independent Fremont
Basis Independent Manhattan
Basis Independent McLean
Basis Independent Silicon Valley
BASIS International School Shenzhen (China)
BASIS International School Guangzhou (China)
BASIS International School Hangzhou (China)
BASIS International School Park Lane Harbour (china)

[Anonymous]

Spring Education Group https://springeducationgroup.com/ has purchased the private BASIS schools. Spring is reportedly owned by Primavera Capital Group, which is a China-based investment firm.http://www.primavera-capital.com/en/

Virtually all Chinese investment firms have at least indirect connections to the Chinese government. Most directors at Primavera previously worked Goldman Sachs.

This article from when they acquired other private schools suggests some of the reasoning -- there is a growing interest by Chinese parents to enroll their children in American schools. It is easier for that to happen in private schools than public. http://www.chinadaily.com.cn/a/201712/29/WS5a4661c3a31008cf16da44e1.html

[Anonymous]

Anonymous wrote:Why should ruthless “investors” be allowed to speculate on schools for children? Let them go elsewhere.

Corporations (which the private BASIS schools are) are bought by foreign investors and companies every day, in every sector -- except where there are export control or national security reasons to prevent it. The BASIS schools were already owned by 2-private US investors, who just sold their interests.

[jsteele]

This topic doesn't seem to have anything to do with DC Public or Charter schools except very tangentially.