Russia-focused private equity firm CapMan Russia, a subsidiary of Finland-based fund manager CapMan, has acquired a stake in Russia-based Maximum Education, a provider of test preparation services. The transaction was structured through CapMan Russia II. The company provides online and offline test preparation services and operates two learning centers in Moscow and St. Petersburg. The aim of the transaction is to expand the company’s operations in the test preparation services market. Financial details of the transaction were not disclosed.