Street Talk

PEP weighs options for $100m-a-year tertiary education business UP

Sarah Thompson, Kanika Sood and Emma Rapaport

Mar 23, 2025 – 3.21pm

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Buyout firm Pacific Equity Partners is considering liquidity options for UP Education, which makes about $100 million in earnings and is one of the biggest tertiary education providers in Australia and New Zealand.

Street Talk can reveal PEP has asked a small group of investment banks and advisers to submit responses to a request-for-proposal regarding UP Education, which offers degrees, diplomas, certificates and university admissions pathways from 15 locations in the two countries.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.