ICG, the global alternative asset manager, today announced that its Asia Pacific Corporate team has realised its investment in PSB Academy (“PSB” or “the Company”), a leading private education institution based in Singapore, through a sale to Sun Venture. The transaction marks a significant milestone for all parties and positions PSB for continued growth within Asia’s higher education sector.
Founded in 1964, PSB has grown to become one of Asia’s largest and most reputable private higher education institutions. Under ICG’s stewardship, PSB has significantly strengthened its market position, expanding both its campus footprint and academic offerings, and reinforcing its status as Singapore’s largest independent scaled higher education platform. With a diverse international student body and a strong focus on industry-relevant programmes, PSB has consistently delivered strong academic outcomes and deepened partnerships with leading universities worldwide.
Since ICG’s investment in 2018, PSB has grown its globally diverse student population and continued to invest in facilities, curriculum innovation, and student outcomes, supporting graduates with the skills needed to succeed in an evolving global economy.
ICG is currently deploying capital from its Asia Pacific Fund IV, which closed at $1.1bn in May 2022, and has recently completed investments in SuperChoice, Alfa Medicus and Cura Day Hospitals.
Milo Lin, Managing Director and Head of Southeast Asia, ICG, said:
Over the course of our successful partnership with PSB, the Company has developed into one of the region’s leading private higher education institutions, more than tripling its globally diverse student population. This achievement reflects the strength of PSB’s academic proposition and the outstanding leadership of an A+ management team, led by Viva Sinniah and Derrick Chang. We wish the team every success as PSB enters its next phase of growth.
Viva Sinniah, Executive Chairman, PSB Academy, said:
This transaction marks an exciting new chapter for PSB Academy. Our commitment to delivering relevant, high-quality education to a diverse global student community remains unwavering. We are incredibly grateful to Milo and the broader ICG team and look forward to working with Sun Venture to build on our strong foundations and expand our impact across the region.
– Ends –
For further information please contact:
Clare Glynn
Head of Corporate Communications
+44 20 3545 1395
[email protected]
Maisie Le Masurier
Corporate Communications
+44 20 3545 1624
[email protected]
About ICG
ICG (LSE: ICG) is a global alternative asset manager with $124bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.
*As at 30 September 2025.
About PSB Academy
As one of Singapore’s leading private education institutions with almost 60-years heritage of producing more than 200,000 learners, PSB Academy is committed to defining their identity as “Asia’s Future Academy”. Established in 1964, PSB Academy started under Singapore’s Economic Development Board and later Productivity and Standards Board to upgrade the knowledge and skills of Singapore’s workforce. With an approach to education that focuses on what really matters: performance in the New Economy, PSB Academy provides quality education to shape and nurture future-ready graduates with the necessary skills and tools to stay relevant in a digitally-driven economy.
About Sun Venture
Founded in 2006, Sun Venture is a long-term investor, with a methodical and disciplined approach. The firm invests globally across a broad range of asset classes, including private equity, real estate, public equities, fixed income, and alternatives, with the goal of delivering sustainable value across market cycles. Its objective is to be a trusted partner and shareholder, committed to long-term investment success. For more information, please visit Sun Venture’s website and follow them on LinkedIn.
Back