Kirkland & Ellis advised Two Sigma Impact, a business of Two Sigma focused on workforce impact, and BayPine, a private investment firm, on the acquisition of Penn Foster, a workforce development pioneer. The investment represents the next phase of Penn Foster's growth following a successful partnership with Bain Capital Double Impact, the impact investing unit of Bain Capital. The transaction will accelerate the build-out of Penn Foster’s digital learning platform focused on preparing frontline workers to thrive within high-growth, high-skill jobs. Terms of the transaction were not disclosed.
The Kirkland team was led by transactional partner Michael Weisser and associate Jaye Kasper and debt finance partner Nicholas Schwartz and associate East Berhane, and included transactional partners Peter Martelli and Ravi Agarwal.