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

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note