RRJ Capital Exits From China’s Tsingda For 3X Return


Asia-focused private equity firm RRJ Capital has made a near threefold return on its investment in Chinese education O2O (online-to-offline) company Tsingda eEdu Corporation, FinanceAsia reported.

RRJ Capital sold its roughly 20% stake in Tsingda for about US$140 million to an unnamed Chinese trust company in a sale that values Tsingda at around US$700 million.

RRJ Capital invested US$50 million in Tsingda in February 2015, says the report.

At the same time, OCBC Bank, Singapore’s second largest bank by assets, says its private equity investment unit Mezzanine Capital Unit (MCU) sold its stake in Tsingda as well.

MCU and Asia-focused buyouts and venture capital firm Capvent, who together held 10% in the Beijing-based Tsingda, sold their stake to the same investors for around US$70 million, says the report.

MCU invested US$20 million in Tsingda in 2014.

Founded in 2003, Tsingda has registered capital of RMB30 million and 1,100 staff, according to its website.

It operates a few education O2O (online-to-offline) businesses, including babyangels.cn, a preganncy and early education unit, early education unit Familybaby.cn, Xuexiba.com and Yi8edu.com.

 

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