March 23, 2019

What ever happened to Apollo’s Billion Dollar International Investment Fund?

Remember the press release from 2007 about Apollo’s billion dollar invetment with Carlyle?  What ever happened with that?Apollo Group and the Carlyle Group Form $1 Billion Joint Venture to Make Investments in the International Education Services Sector
PHOENIX & WASHINGTON–(BUSINESS WIRE)–Oct. 22, 2007–Apollo Group, Inc. (Nasdaq:APOL) (“Apollo Group” or the “Company”), and private equity firm The Carlyle Group (“Carlyle”), today announced that they have formed a $1 billion joint venture, Apollo Global, Inc. (“Apollo Global”). Apollo Global intends to make a range of investments in the international education services sector. Apollo Global will target investments and partnerships primarily in countries outside the U.S. with attractive demographic and economic growth characteristics. Apollo Group has committed up to $801 million and will own 80.1% of the joint venture. Carlyle has committed up to $199 million and will own 19.9% of Apollo Global. Investments and funding will be subject to approval by the respective investment committees of both Apollo Group and Carlyle. Apollo Global will be a consolidated subsidiary of Apollo Group and Greg Cappelli, Apollo Group’s Executive Vice President and Director will be Chairman of the subsidiary.Commenting on the new venture, Greg Cappelli 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.”

Brian Mueller added, “We will continue to invest capital in our high return core domestic business, and through Apollo Global, we will also explore strategic and value creating global acquisition opportunities. Importantly, we reiterate that any investment must meet our disciplined investment criteria as we remain committed to creating long-term value for our shareholders.”

Brooke B. Coburn, Managing Director and Co-head of Carlyle Venture Partners III, L.P., said, “Global demand for higher education is strong. Apollo Group’s operational expertise coupled with Carlyle’s global network make this a powerful partnership.”

The remaining six directors who comprise Apollo Global’s board include Brian Mueller, President and Director of Apollo Group, Peter V. Sperling, Senior Vice President, Secretary and Director of Apollo Group, Roy A. Herberger, Jr., an Apollo Group Director, Jeff Langenbach, Vice President Corporate Development of Apollo Group and Apollo Global’s interim President, Brooke B. Coburn, Managing Director and Co-head of Carlyle Venture Partners III, L.P. and Charles C. Moore, Managing Director on Carlyle’s U.S. Venture and Growth team.

About Apollo Group, Inc.

Apollo Group, Inc. has been an education provider for more than 30 years, operating the University of Phoenix, the Institute for Professional Development, the College for Financial Planning, Western International University and Insight Schools. The Company offers innovative and distinctive educational programs and services at high school, college and graduate levels at 259 locations in 40 states and the District of Columbia; Puerto Rico; Alberta and British Columbia, Canada; Mexico and the Netherlands, as well as online, throughout the world.

For more information about Apollo Group, Inc. and its subsidiaries, call (800) 990-APOL or visit Apollo on the company website at: www.apollogrp.edu.

About The Carlyle Group

The Carlyle Group is a global private equity firm with $75.6 billion under management committed to 55 funds. Carlyle invests in buyouts, venture & growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $32.3 billion of equity in 686 transactions for a total purchase price of $157.7 billion. The Carlyle Group employs more than 900 people in 21 countries. In the aggregate, Carlyle portfolio companies have more than $87 billion in revenue and employ more than 286,000 people around the world. www.carlyle.com.

 

Comments

  1. The economy happened! With the massive credit crisis getting leverage with banks for buyouts has fallen off a cliff. At the same time the prices for edu firms has gone up. I think they will make a mover internationally its just a matter of when and not if… I cant believe this co’s stock is as low as it is when they a clearly the leader in size & scale, they should be 20-40% higher than they are.

  2. April 29, 2009 3:00 AM EDT

    PHOENIX–(BUSINESS WIRE)– Apollo Group, Inc. (Nasdaq: APOL) (“Apollo Group,” “Apollo” or “the Company”) confirmed today that its 80.1% owned subsidiary, Apollo Global, Inc., has approached the Board of BPP Holdings plc (“BPP”), a European provider of professional education and training, to discuss the potential acquisition of all of the outstanding shares of BPP at 620 pence per share in cash. No offer has been made and further discussions are subject to Apollo Global’s completion of a satisfactory due diligence investigation. There is no certainty that an offer will be made or that, if an offer is made, a transaction will be consummated.

    http://www.streetinsider.com/Press+Releases/Apollo+Group+in+Preliminary+Discussions+with+BPP+Holdings/4596338.html

  3. I had a feeling they were going to move on something. They have such a large engine built that needs more fuel… It will be interesting to see how they preform in the international marketplace.

  4. • BPP is a UK based professional training and education company. The company’s largest division, representing 65% of the company’s revenue in 2008, offers training and published materials for examinations in accountancy and tax (e.g., ACCA), financial services (e.g., CFA), and actuarial sciences. 28% of the company’s revenue relates to postsecondary institutions focusing on law and business. According to the company’s website, BPP became the first publicly-owned company in the UK to obtain degree-awarding powers.

  5. Its evident that the global management team is led by incompetent bankers. With now the large writeoff of BPP and thier investmests going no-where while other educational stocks soar show that this team is leading Apollo investors to bankruptcy. Get a clue its a good oldboys nerwork of bankers at Apollo that have done nothing but ruined the company

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