Tembusu Partners sells 36% interest in Ednovation for more than S$50m

TEMBUSU Partners said on Thursday that it has divested its 36 per cent stake in homegrown education group, Ednovation, to private equity firm CDH Investments in a deal valued at more than S$50 million.

The disposal by Tembusu Growth Fund II Ltd (TGF II) and Tembusu Growth GIP Fund (TGIP) is said to represent an internal rate of return of more than 30 per cent for the three years that Tembusu has held Ednovation, which operates more than 60 pre-schools in Asia under the brands Cambridge, ChildFirst and Shaws.

TGF II is a S$110 million Pan-Asian private equity growth capital fund with an investment focus on growth sectors such as education, healthcare and technology. TGIP is a parallel fund to Tembusu Growth Fund II.