The largest Latin American buyout firm GP Investments Ltd announced the sale of its remaining stake in Estacio Participacoes SA. The Brazilian college operator had five years of continued gains to become one of the biggest companies in the education industry.

GP Investment had divested its last remaining 22,064,215 Estacio shares worth BRL17.61 per share bought through the GPCP IV fund. According to a regulatory filing made last Friday, the net proceeds of the sale reached USD56.5 million.

Brazil's USD11 billion per year education industry has been riding a crest of double digit growth in the last few years. The current job climate requires a skilled labor force inculcated with technical knowledge, strong analytical skills and high proficiency in languages.

The venture in Estacio commenced back in 2008 as a 20% stakeholdings owned by GP in the company. At the time, the internal rate of return was at 17.8% in dollars, according to GP. The internal rate of return is one of the best gauges as to the profitability of an enterprise.