The Hong Kong and Moscow offices of Debevoise & Plimpton LLP have advised the Russia China Investment Fund (RCIF) in its investment in TutorGroup.
The investment was made as part of an approximately $200 million Series C equity financing by TutorGroup, which also involved new investors GIC (Singapore’s sovereign fund), Goldman Sachs, and Silverlink Capital LP, as well as existing investor Temasek.
Launched in 2004, TutorGroup is a leading online education platform with offices throughout Asia and a core R&D team based in Silicon Valley. Proceeds from the new investment round are to be used to accelerate TutorGroup’s international expansion, as well as for the continued enhancement of the company’s platform.
RCIF is a private equity fund which invests in projects that advance bilateral economic cooperation between Russia and China. It was established in June 2012 by two government-backed investment vehicles – the Russian Direct Investment Fund and China Investment Corporation.
The Debevoise team advising RCIF was led by Hong Kong based partner E. Drew Dutton and included associate Parveet Singh Gandoak. Moscow based partner Alan Kartashkin also advised, assisted by Maxim A Kuleshov.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.