UK-listed ICG buys PSB Academy from Baring

Singapore

SEVEN years after Baring Private Equity Asia (BPEA) scooped up Singapore's private education institution PSB Academy, it has now sold the academy to asset management firm Intermediate Capital Group (ICG) for an undisclosed sum.

The sale of 100 per cent of PSB Academy, one of the largest independent tertiary education institutions in Singapore follows last year's opening of its new S$15 million state-of-the-art campus in Marina Square.