Cleary Gottlieb Steen & Hamilton, Shearman & Sterling, Simpson Thacher & Bartlett and Travers Smith have all taken roles on private equity house TPG Capital’s acquisition of Times Educational Supplement (TES) publisher TSL Education from Charterhouse Capital.

The deal, which makes TPG the fourth owner of the business in eight years, is reported to be worth around £400m and is expected to close in the third quarter of 2013.