( en | de | ru )

 

  2. tag
  3. bpp

bookmarks  3

  •  

    The UK government will decide whether BPP University should continue to be eligible for university title and degree-awarding powers, after its US owner was sold to a private equity consortium for $1.1 billion (£899 million). BPP, one of only three for-profit universities in the UK, saw the sale of its owner, Apollo Education Group, completed last month. The deal, which takes the company private, also includes its big US for-profit institutions, such as the University of Phoenix and Western International University. The new owners are a consortium including Vistria Group, a private equity firm run by Marty Nesbitt – a Chicago businessman sometimes described as Barack Obama’s best friend – and former US deputy education secretary Tony Miller. The consortium also includes “funds affiliated” with private equity firm Apollo Global Management, according to the Washington Post. The change of ownership for BPP comes as the UK government nears the final stages of steering through Parliament the Higher Education and Research Bill, which aims to further open England’s sector to new private and for-profit providers. While ministers believe that new providers are needed to introduce greater competition for established universities, critics believe creating more for-profit universities that can go through repeated changes in ownership may have an impact on quality for students. An independent review of BPP will now be submitted to the Higher Education Funding Council for England, including checks on whether the institution continues to meet student number and governance requirements. Hefce will, in turn, advise the Department for Education on the institution's future status. Carl Lygo, BPP's vice-chancellor, said that "nothing has changed" at the university since the sale was announced. "Neither of the new owners has any record in delivering higher education in the UK and so their plans will be carefully scrutinised by the Department for Education," Professor Lygo said. "This is not a rubber stamp process." A DfE spok
    7 years ago by @prophe
     
      Mar2017UKEnglishstatusBPPfor-profit
      (0)
      copydelete
       
       
    •  

      All three of England’s for-profit universities owned in Netherlands Calls have been made for greater scrutiny of the ownership of for-profit higher education providers after it emerged that BPP University is owned in the Netherlands by its US parent. The disclosure means that all three of England’s for-profit universities are owned in the Netherlands, which is known for its attractive corporate tax regime. However, Apollo Education Group, which has owned BPP since 2010 and was recently bought by two US private equity firms, said it did not gain any tax advantage from Dutch ownership of the institution. BPP has benefited from £26.6 million in tuition fee payments via the public Student Loans Company over five years since 2011, according to SLC figures. Companies House documents show that BPP University is owned by BPP Holdings, which is in turn owned by Apollo UK Acquisition Company Limited, which is itself owned by Coöperatieve Apollo Global Netherlands UA (UA is the abbreviation for the Dutch-language term for “excluded liability”). England’s two other for-profit universities, the University of Law and Arden University, are both owned by Global University Systems, a company whose leadership is Russian and which is registered in the Netherlands as a “BV”, the Dutch equivalent of a private limited liability company. The government’s Higher Education and Research Bill, currently making its way through Parliament, aims to bring in more private and for-profit providers to compete with universities. Times Higher Education asked Apollo why BPP is ultimately owned in the Netherlands, whether or not Netherlands ownership conferred any tax advantages for Apollo, and whether the location of ownership is likely to change under the new owners of Apollo. A spokesman for Apollo Global, the group’s subsidiary for its non-US operations, said: “Apollo Global’s Dutch structure was put into place in 2011 in conjunction with the development of a new global learning platform. We do not gain any tax advantages related to the s
      7 years ago by @prophe
       
        UKfor-profitDutchNetherlandsBPPMar2017Englishprivate
        (0)
        copydelete
         
         
      •  

        7 years ago by @michelc
         
          BPPdataoptimisationprogramingscience
          (0)
          copydelete
           
           
        • ⟨⟨
        • ⟨
        • 1
        • ⟩
        • ⟩⟩

        publications  1