Bain, Prides Capital put $60m in Princeton Rev.

Two investment firms with Boston ties, Bain Capital Ventures and Prides Capital LLC, have agreed to invest $60 million in the Princeton Review Inc., the provider of test preparation and educational support services said today.

The New York-based Princeton Review also said that Michael J. Perik, former chief executive of the Learning Co., will become chief executive of Princeton Review; Perik succeeds company founder John S. Katzman, who will remain as executive chairman.

"We are certain the company can become a major international player in the educational marketplace," Michael Krupka, a Bain Capital managing director, said in a statement.
(By Chris Reidy, Globe staff)