The for-profit online university’s assets may be worth up to $1.7 billion.
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The company that owns the University of Phoenix has filed for an initial public offering, months after plans to sell the online college to the University of Idaho fell through, Bloomberg reported Friday.
An IPO of the for-profit University of Phoenix, which has previously faced regulatory scrutiny for misleading and defrauding students, may be valued anywhere from $1.5 billion to $1.7 billion, Bloomberg reported in March.
Before the public offering closes, the Delaware-based AP VIII Queso Holdings LP—the majority owner of the University of Phoenix—will be renamed Phoenix Education Partners Inc., according to the filing made with the United States Securities and Exchange Commission Friday. After the termination of the deal in June, the company paid the University of Idaho $12.2 million in fees.
Apollo Education Group, AP VIII Queso Holdings’ predecessor, went private in 2017 in a $1.1 billion deal backed by Apollo Global Management Inc. and the Vistria Group.
The University of Phoenix has been trying to sell its assets for years. Prior to the announcement of plans for a $685 million deal with the University of Idaho in 2023, the University of Arkansas also considered purchasing the University of Phoenix but did not move forward.
