Brookfield Asset Management is in talks to make a roughly $1 billion investment in private school operator Spring Education Group, according to people with knowledge of the matter, Bloomberg News is reporting Tuesday afternoon.

The firm is discussing a structured debt investment in Spring Education, which operates a network of private schools that span early childhood through high school, as well as an online division, said the people, who requested anonymity to discuss confidential information.

The US-based company, led by Chief Executive Officer Michael Collins, operates across 19 states in the US and also has a presence in Asia.

Bloomberg noted deliberations are ongoing and could still be delayed or fall apart. A representative for Brookfield declined to comment, while a representative for Spring Education didn't immediately respond to requests for comment.

Any transaction would follow Brookfield's investment last year in GEMS Education, a family-run private school provider based in Dubai.

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