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Stock impact report

Private equity finds its next bet: college admissions [Yahoo! Finance]

S&P Global Inc. (SPGI) 
Last s&p global inc. earnings: 4/28 07:10 am Check Earnings Report
US:NYSE Investor Relations: stocktwits.com/symbol/s
Company Research Source: Yahoo! Finance
It's been a volatile few years for US college entrance exams, and the companies that run them, as universities around the country try to figure out what's the best way to evaluate prospective students. In the midst of that turmoil, the companies (often nonprofits) that create these tests have been slammed by financial losses. Now, private equity firms are swooping in to help while taking majority stakes in exchange. That's worrying some education advocates. What's happening: ACT Inc., the Iowa-based nonprofit behind the eponymous college entrance exam, has been having a tough time. About 1.4 million students in the U.S. took the ACT in 2023, a small increase from the year before, but the numbers have not returned to pre-pandemic levels. The company recorded a net loss of $12 million in fiscal year 2022, $6 million in 2021 and $60.5 million in 2020. Last week, the company announced that it would partner with California-based private equity firm Nexus Capital Management and Show less Read more
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