MoFo advises Ascendent Capital Partners on RYB Education’s 144.3M NYSE debut

09/28/2017

Marcia Ellis and Ivy Tang

Private Equity Investments + Buyouts

MoFo News Item

Morrison & Foerster LLP advised Ascendent Capital Partners, as the largest shareholder in China’s early childhood education service provider RYB Education  (“RYB”), with respect to the USD144.3M listing of RYB on the New York Stock Exchange – the first time that a Chinese early childhood education provider has listed in the U.S.

Beijing-based RYB is one of the largest early childhood education service provider in China. It operates preschools for children between two and six years old in 130 cities in China, directly operating 80 and franchising an additional 175 more, according to the prospectus. RYB also runs 853 franchised play-and-learn centers, which allow parents and children to attend early-childhood education classes together.

Ascendent Capital Partners is a private equity investment management firm focused on Greater China-related investment opportunities, managing capital for globally renowned institutional investors including sovereign wealth funds, endowments, pensions, foundations and fund-of-funds. It owned a 47.1% stake in RYB before the listing.

The Morrison & Foerster team was led by co-head of the firm’s Asia Private Equity practice, Marcia Ellis, and she was supported by Hong Kong-based senior associate Ivy Tang and junior associate Euzane Lee. The same team also advised Ascendent Capital Partners with respect to its acquisition of a 47.1% stake in RYB in 2015.

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