Carlyle Makes Play For Education Sector

Oct 30 2007 | 4:19pm ET

The Carlyle Group is going back to school with its newest classmate, the Apollo Group. The two firms have formed a $1 billion joint venture to make a range of investments in the international education services sector. 

Apollo has committed up to $801 million, and will own 80.1% of the joint venture, while Carlyle gets a 19.9% stake for $199 million. Apollo, which operates for-profit post-secondary schools such as the University of Phoenix and the Institute for Professional Development, will target investments and partnerships primarily outside the U.S. “with attractive demographic and economic growth characteristics.”
 
Greg Cappelli of Apollo said, “We are very excited about this new joint venture and our partner, The Carlyle Group. Our core competencies in the education space, combined with Carlyle’s industry relationships and strategic assets across the global education sector, will allow us to successfully capitalize on the tremendous global opportunity that exists in the marketplace.”

Brooke Coburn, co-head of Carlyle Venture Partners III, said, “Global demand for higher education is strong.  Apollo Group’s operational expertise coupled with Carlyle’s global network, make this a powerful partnership.”
 
Apollo Group has been involved in the education sector for more than 30 years.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR