Carlyle Sells Portfolio Co. To Itself (Sort Of)

Apollo Group Inc. (Nasdaq: APOL) has acquired a majority stake in Universidad Latinoamericana, an accredited private university in Mexico City, from Carlyle Mexico Partners. No financial terms were disclosed. Apollo Global is a $1 billion joint venture formed last year, and is 19.9% owned by The Carlyle Group, which manages the Carlyle Mexico Partners fund.

 

PRESS RELEASE

 

Apollo Global, Inc., a consolidated subsidiary of Apollo Group, Inc. (Nasdaq: APOL) (“Apollo Group,” “Apollo” or the “Company”) announced it has purchased a majority stake in Universidad Latinoamericana S.C. (“ULA”), an accredited, private university based in Mexico City, from Carlyle Mexico Partners.

 

“We are pleased to invest in an institution such as ULA with its 32-year history and solid reputation,” stated Greg Cappelli, Chairman of Apollo Global. “This commitment reflects our desire to provide high-quality education to students throughout Mexico and the region.  We have been working to identify opportunities that will create value for Apollo Group shareholders, and we believe ULA, coupled with Mexico's strong enrollment trends and growing economy, is an excellent fit.”

 

Founded in 1975, ULA is renowned for its dentistry, medicine and communications programs accredited by the Ministry of Public Education (Secretar