We started monitoring the education space on the back of our interest in traditional sectors that are ripe for digital disruption. We also identified a strong growth opportunity for vocational training providers given the trend in many European economies to reskill parts of the workforce to drive labour productivity. We were attracted to BPP given its strong position in the corporate training space with an unrivalled reputation, scale and breadth of content. We identified an opportunity to partner with BPP’s ambitious management team to pursue a number of growth initiatives. Following a bilateral negotiation, we acquired BPP in July 2021.