UK's Intermediate Capital mulls sale of PSB Academy in Singapore, WSJ reports

[SINGAPORE] British asset manager Intermediate Capital Group (ICG) plans to sell PSB Academy, one of Singapore’s largest independent tertiary education institutions, the Wall Street Journal reported on Wednesday (Mar 19), citing people familiar with the situation.

ICG has engaged corporate advisory firm Rippledot Capital Advisers to explore its options for the institution, which could be valued at as much as S$700 million, the report said.

ICG and Rippledot declined to comment on the report.

The UK-based firm manages assets of about US$107 billion and acquired PSB Academy in 2018 for an undisclosed sum. REUTERS