Category Archives: Deals

by

Higher-Education Company to Sell Its European Operations

The Career Education Corporation has struck a deal to sell its European operations to Apax Partners, a private-equity group, for $267-million in cash, the higher-education company announced on Thursday.

The sale includes a chain of business, communications, and health-care colleges based in Paris, the Inseec Group, that Career Education bought 10 years ago for about $20-million. It also includes the International University of Monaco, which it acquired in 2010 for $6.3-million.

Career Education …

by

$250-Million Gift to Centre College Is Withdrawn

An agreement by the A. Eugene Brockman Charitable Trust to endow 160 full scholarships at Centre College, in Danville, Ky., came together this summer after less than two months of negotiations. On Monday officials at Centre announced that the deal had come undone even more quickly because of a “significant capital market event” that left the donor unable to make its planned $250-million stock gift to the college.

The gift, which was to have established the Brockman Scholars Program in Leadership…

by

St. John’s U. Lands a $223-Million Real-Estate Deal in New York


View Larger Map

After a few years of leadership troubles and financial scandals, St. John’s University of New York has gotten a windfall that any institution would covet. Developers have purchased a university building for $223-million, one of the most expensive land deals in New York City, Crain’s New York Business reports.

The developers—Steven Witkoff, Howard Lorber, and Fisher Brothers—plan to demolish the building and put up a 372,000-square-foot condominium tower in its place. “If the deve…

by

At Creighton U.’s Apple Store, Students Will Run the Show

Creighton University students will soon test their business chops, trying to sell one of the world’s most popular brands.

The business school at the Nebraska university this fall will open the first student-run Apple Store, where aspiring marketers, accountants, and entrepreneurs will be able to get their start at the retail giant. The store will become a classroom—and unpaid gig—for 30 to 60 student employees each year, as they will get class credit for managing inventory, making sales, and…

by

Despite Wariness, Outsourcing Pays Off for Universities

Indianapolis — Colleges have moved far beyond hiring private companies just to run their dining services or manage the campus bookstore. In June 2012, for example, Ohio State University signed a $483-million deal to lease its parking facilities to an Australian company for 50 years.

Although there was an outcry from some faculty members, the money added about 20 percent to the value of Ohio State’s endowment, said Michael Papadakis, the university’s vice president for financial services. Mr. Pap…

by

New Blog Will Track Private Equity’s ‘Thirst’ for Education Investments

With private investing funds increasingly eyeing—and buying into—the world of higher education, two researchers at the State University of New York decided it’s time college leaders better understood who those investors are and where they’re putting their money.

We want to know “what the thirst of private equity is” because its investments fuel the new companies that are playing a role in reshaping the academic landscape, says Mitch Leventhal, vice chancellor for global affairs at SUNY. “Why are…

by

Being a Billionaire Means Never Having to Say You’re Sorry

Stanford University announced this week that its spring commencement speaker would be Mayor Michael R. Bloomberg of New York.

If you saw that one coming, we’d like to know whom you’ve picked to win this year’s World Series.

Just two years ago, Stanford was a front-runner in a ballyhooed competition among several universities to build a new applied-sciences campus at the south end of New York City’s Roosevelt Island. Then, in December 2011, Stanford abruptly withdrew its bid, and Mr. Bloomberg an…

by

Florida Atlantic U. Students Stage Sit-In to Protest ‘Owlcatraz’ Stadium Deal

Students occupied the reception area of the Florida Atlantic University president’s office on Monday in hopes of persuading officials to reverse a deal to name the institution’s football stadium for a company that operates prisons. The university announced last week that the facility, home of the Florida Atlantic Owls, would be known as GEO Group Stadium in exchange for $6-million to be paid over 12 years.

Gonzalo Vizcardo, a student and spokesman for a group calling itself the Stop Owlcatraz Co…

by

Arm of World Bank Buys $150-Million Stake in Laureate Education

Laureate Education, a company that operates a network of 65 universities in 29 countries, has received a $150-million investment from the International Finance Corporation, an arm of the World Bank.

A Laureate spokesman, Matthew Yale, said the company, with about $3-billion in annual revenues, will use the money to continue its expansion, possibly to locations in Africa (Laureate has a campus in Morocco) and Latin America, where the company has an extensive presence. ”Their mandate to us is ‘eme…

by

Private Equity Steps Into the International-Student Market

One more sign that colleges and companies see the financial possibilities of the international-student market: A British company that helps to bring students from China and other countries to campuses in the United States and other English-speaking nations has announced an investment of more than $100-million from a private-equity firm.

The seven-year-old company, INTO University Partnerships, is known for the “pathways” programs it runs at Oregon State University and 15 other colleges and unive…