October 23, 2007
Apollo Group and Private Firm to Invest Up to $1-Billion in International Ventures
The company that owns the University of Phoenix announced on Monday a venture with the Carlyle Group, a private-equity firm, that will invest up to $1-billion in education institutions and services abroad. The parent company, the Apollo Group, will control 80.1 percent of the joint venture, to be called Apollo Global Inc.
The venture is likely to focus on regions with a profitable mix of robust young populations and government-financed universities that are slow to expand, such
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