Sterling Partners has formed a new $200 million Education Opportunity Fund, its first-ever sector-focused fund, in partnership with USA Funds, a nonprofit organization that is active in promoting postsecondary-education.
The Education Opportunity Fund will be led by Sterling co-founder and Senior Managing Director Chris Hoehn-Saric and Managing Directors Shoshana Vernick and Jason Rosenberg. The fund will primarily invests in companies that serve the higher education market and that are developing or marketing technology related services. However, in addition to higher education, the fund will also consider investments in other areas of the student and adult learner lifecycle.
USA Funds is a nonprofit corporation that works to enhance postsecondary-education preparedness, access and success by linking colleges, universities, private lenders, students and parents in order to promote financial access to higher education. USA Funds is the nation’s largest guarantor of loans made under the Federal Family Education Loan Program, the largest federal source of financial aid for higher education. The organization was founded in 1960 and during its 55-year history has provided support to more than 22 million students and parents to pursue higher education. USA Funds is led by William Hansen, President and CEO, and is headquartered in Indianapolis (www.usafunds.org).
Sterling Partners focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including education, healthcare, and business services. Sterling manages over $5 billion in institutional capital. The firm was founded in 1983 and has offices in Chicago, Baltimore, and Miami (www.sterlingpartners.com).
“We have always been passionate about supporting all aspects of the education sector. Our goal is to improve the quality of learning, help students achieve great academic and workforce outcomes, and support universities in delivering a quality student experience,” said Mr. Hoehn-Saric. “Our partnership with USA Funds and our closely aligned philosophies will allow us to continue to pursue private sector investment opportunities of impact.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-14-15