University of Phoenix Backers Raise $136 Million in IPO

Shareholders of Phoenix Education Partners Inc., the owner of the University of Phoenix, raised $136 million in an initial public offering, pricing the shares in the middle of a marketed range.

Apollo Global Management Inc. and Vistria Group sold a combined 4.25 million shares of Phoenix Education for $32 each after marketing them for $31 to $33, according to a statement Wednesday.

At that price, Phoenix Education has a market value of $1.14 billion based on the outstanding shares listed in its filings with the US Securities and Exchange Commission.

The IPO is among the last receiving SEC ...