January 19, 2010 / 2:37 PM / 9 years ago

Canadian pension fund to acquire Britain's Acorn Care

* Fund to acquire British school operator

* Terms of deal not disclosed

TORONTO, Jan 19 (Reuters) - British private equity firm Phoenix Equity Partners said on Tuesday it has reached an agreement to sell Acorn Care and Education Limited to Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan.

The terms of the deal were not disclosed, but a report in the Financial Times pegged the deal’s value at about $245 million.

Acorn, which provides facilities for children with special needs, operates 10 schools across England, the private equity firm said in a press release.

The Ontario Teachers’ Pension Plan, which has more than C$87 billion in net assets, invests and administers the pensions of 284,000 active and retired teachers in Ontario. (Reporting by Euan Rocha, editing by Maureen Bavdek)

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