Apollo Education Group Eyes IPO, Could Be Valued $1.7B

Apollo Global Management and Vistria Group, the current owners of the University of Phoenix, are exploring options for a potential sale or initial public offering (IPO) of Apollo Education Group. Sources indicate that an IPO could take place as early as the third quarter of this year, with the company potentially valued between $1.5 billion and $1.7 billion.

Apollo Education Group, which operates the University of Phoenix, was acquired in 2017 by funds affiliated with Apollo Global and Vistria for $1.1 billion. The firm has been under private ownership since then, focusing on expanding its online education offerings.

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In parallel, the University of Idaho has been in discussions since 2023 regarding a possible acquisition of the University of Phoenix. The purchase agreement was extended in June to allow additional time for consultations with legislators and other stakeholders.

Representatives from Apollo Global Management and Vistria Group declined to comment on the reports. Analysts suggest that the IPO or sale could provide investors an opportunity to capitalize on the growing demand for online higher education while also reflecting the evolving strategies of private equity owners in the education sector.