University of Phoenix Owners Raise $136 Million in IPO

Phoenix Education Partners Inc., the parent company of the University of Phoenix, has raised $136 million through its initial public offering (IPO), pricing shares in the middle of the marketed range.

According to a company statement released on Wednesday, Apollo Global Management Inc. and Vistria Group jointly sold 4.25 million shares of Phoenix Education at $32 per share, after marketing them between $31 and $33.

Phoenix Education Partners operates the University of Phoenix, one of the largest and most established online universities in the United States, serving adult learners and professionals for several decades.

Analysts said the successful IPO will provide the company with fresh capital to expand its digital learning programs, upgrade educational technology, and strengthen its competitive position in the rapidly growing online education sector.

In recent years, the U.S. higher education landscape has seen a sharp rise in demand for online learning, making institutions like the University of Phoenix increasingly attractive to investors.