Clifford Chance has advised London-listed asset manager Intermediate Capital Group (ICG) on the acquisition of Singapore private education institute PSB Academy (PSB) from funds managed by Baring Private Equity Asia through a competitive auction.

PSB is one of the largest independent tertiary education institutions in Singapore, with a 54-year track record. PSB delivers full-fledged tertiary degrees under the brands of renowned university partners in Australia and the UK. It operates two state-of-the-art campuses in Singapore as well as schools in Vietnam, Myanmar, and Indonesia.

The Clifford Chance team was jointly led by M&A partners Andrew Whan (Hong Kong) and Melissa Ng (Singapore) with support from counsel Tom Lin, and associates Samantha Eng and Ivan Chan (Singapore).

Andrew and Melissa offer, "We are pleased to have advised ICG on this transaction which represents their continued focus on the rising demand in the private education sector, and their second education-related investment in Asia Pacific."