We are committed to advancing access to quality global education by investing in institutions respected in their academic communities led by visionary leaders and driven by innovation.
Our vision is to broaden student opportunity, grow the knowledge base of the communities we serve and advance the educational landscape worldwide.
Why we believe in a future of investing in global education
The global education market climbed past $2.3 trillion in spending early this decade, and by 2005 education spending had grown to around $2.5 trillion. This does not include capital expenditures on private education, which are difficult to track, though acknowledged to be growing around the world. Primary and secondary education are still mainly funded through government expenditures; tertiary education is experiencing significant changes, in general occupying a lower portion of government expenditure and creating a broader role for the private sector.
Demand for higher education around the world is projected to expand from 97 million students in 2000 to 262 million students in 2025. The International Finance Corporation staff estimates in April 2006 showed that the private higher education market approached $400 billion worldwide. Private education is playing a critical role in advancing development of education, specifically higher education and lifelong learning, in many countries around the world.
A number of key trends are driving the growth in private education worldwide:
- Change in demographics – unmet demand and supply of education exists around the world with a particular concentration in the developing world. Supply and demand imbalances exist at all levels of education including the growing need of adult students around the world.
- Decline in public funding – this is affecting education systems around the world in all sectors.
- Mismatch in education quality – quality deficiencies in higher education are resulting in the rise of supplementary training to meet industry demands in the developing world.
- Importance of knowledge – many countries are taking efforts to move up the economic value chain and education plays a key role in their ability to achieve this goal.
- Globalization of education – market forces are playing an increasing role throughout the world in the education community.
- Importance of information & communications technologies – increased availability and role of technology in education is broadening the reach of education. It also creates a demand for employees who are capable of attaining new skills constantly.