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As expected, a group of private investors have completed their $1.14 billion purchase of Apollo Education Group, the company announced Wednesday. The now-private Apollo, which had been publicly traded, owns the University of Phoenix. The U.S. Department of Education and Phoenix's regional accreditor, the Higher Learning Commission, previously signed off on the sale.
Tony Miller was an Education Department official during the Obama administration. He is the COO and a partner of the Vistria Group, one of Apollo's new owners, and now the chairman of Apollo's board.
"We believe we are uniquely positioned to enhance efforts by University of Phoenix and the other Apollo Education Group schools to improve student outcomes," Miller said in a written statement. "We are excited about that opportunity, and we look forward to sharing more about our vision for the future in the weeks and months ahead."
