OCBC Bank PE, Capvent exit Chinese education provider Tsingda, make 3x returns

OCBC Bank, Singapore’s second largest bank by assets, said Thursday that its private equity investment unit Mezzanine Capital Unit (MCU) has sold its stake in Chinese education service provider Tsingda eEdu Corporation, making returns of over 3x (or three times what they invested) on its investment of $20 million made in 2014.