Apollo Education Group (University of Phoenix)

active

Education — Apollo Global Management / Vistria Group

Deal Terms

Entry Year2017

Entry EV$1.14B

Entry Multiple6x

Leverage4x

Debt Amount$0.46B

Risk Metrics

LTV (est.)40%

Debt / EV0.40x

Notes

Apollo Global/Vistria/Najafi took University of Phoenix private for $1.14B (2017). Enrollment crashed from 460K peak (2010) to under 100K. $191M FTC settlement for deceptive advertising. Obama-era gainful employment rules nearly killed it. IPO'd 2025 at $1.35B — PE rehabilitated a predatory brand.

Sponsor

Apollo Global Management$938B AUM