Advent International is seeking to sell Singapore-based education provider The Learning Lab for between $400m and $500m, marking its second attempt to exit the business since 2021, according to a report by Bloomberg.

The US private equity firm has reportedly appointed an adviser to oversee the sale, with part of the proceeds expected to repay a SGD$265m private credit facility provided by KKR, HPS Investment Partners and Nomura in 2023. The financing is scheduled to mature in 2027.

Advent acquired The Learning Lab in 2014 and is understood to own the business outright. The company provides educational services to preschool, primary, secondary and junior college students in Singapore, alongside online programmes serving markets including Malaysia, Vietnam, Thailand and Indonesia.

The potential exit comes amid declining private equity investment in Asia's education sector. Private equity and venture capital investment in education services across the region fell 87% to $240m in 2025, according to S&P Global, reflecting greater selectivity among investors, concerns over artificial intelligence disruption and a growing backlog of private equity exits.