OTTP and Providence Equity Partners’ Sale of Ascend Learning


Paul, Weiss is representing the Ontario Teachers’ Pension Plan (OTTP) in its sale, alongside Providence Equity Partners, of education software company Ascend Learning, LLC

Under the agreement, Ascend will be acquired by funds managed by Blackstone and Canada Pension Plan Investment Board (CPPIB). Financial terms of the transaction, which is expected to close following customary closing conditions and regulatory approvals, were not disclosed.

The Ontario Teachers’ Pension Plan is Canada’s largest single-profession pension plan. Providence Equity Partners is a Rhode Island-based asset management firm. Ascend Learning is a Massachusetts-based provider of educational content, software and analytics solutions.

The Paul, Weiss team included corporate partner Matthew Abbott (Picture) and tax partner Scott Sontag.

Involved fees earner: Matthew Abbott – Paul Weiss Rifkind Wharton & Garrison; Scott Sontag – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Ontario Teachers’ Pension Plan;

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Author: Ambrogio Visconti