University of Phoenix Backers Raise $136 Million in IPO

Phoenix Education Partners Inc. raised $136 million in an initial public offering, signaling a significant financial move for the University of Phoenix amid growing investor interest.

• Phoenix Education Partners Inc., the owner of the University of Phoenix, successfully raised $136 million through an initial public offering priced at the midpoint of its targeted range.
• The IPO involved the sale of 4.25 million shares by Apollo Global Management Inc. and Vistria Group, highlighting strong backing from established financial firms.
• This event took place in Phoenix, Arizona, reflecting the ongoing transformation and financial strategies of the University of Phoenix in the competitive higher education landscape.