We advised Intermediate Capital Group on the transaction

Davis Polk advised Intermediate Capital Group (ICG) on the sale of a majority stake in TIME Education to Nautic Investment. Terms of the transaction were not disclosed.

ICG is a global alternative asset manager specializing in structured capital, private equity secondaries, private debt, credit and real assets. Founded in 1989 and headquartered in London, ICG partners with institutional investors worldwide to deliver long-term, risk-adjusted returns through its broad platform of strategies. With operations spanning Europe, North America and Asia, ICG has more than $120 billion of assets under management.

TIME Education is a leading private education services provider, established in 2007 through the merger of several major private academies in Seoul, Korea. TIME Education serves a wide range of students from pre-K to K-12 through its 11 brands, with its flagship learning center brand Mirae Tamgu boasting a leading presence in Seoul’s heart of private education Daechi-dong.

Established in 2018, Nautic Investment is a Seoul-headquartered private equity firm focusing on buyout, growth M&A financing and pre-IPO investments in Korean SMEs and mid-cap enterprises.

The Davis Polk corporate team included partner Miranda So, counsel Samuel Kang and registered foreign lawyer Yong Lee. All members of the Davis Polk team are based in the Hong Kong office.

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