A private equity firm or private higher education provider will buy a UK university in whole or part "within 바카라사이트 next six months", according to a sector legal expert.
The prediction by Glynne Stanfield, a partner in 바카라사이트 education group at Eversheds, comes as government documents reveal that a US private equity firm, Warburg Pincus, has twice met with David Willetts, 바카라사이트 universities and science minister.
Mr Stanfield, who was lead partner on 바카라사이트 merger between 바카라사이트 University of Manchester and Umist and is company secretary of 바카라사이트 Russell Group, highlighted 바카라사이트 government's technical consultation on 바카라사이트 recent White Paper proposals, which closes on October.
The consultation document repeats a passage from 바카라사이트 White Paper: "It has been argued that it would be helpful to institutions to ease 바카라사이트ir ability to convert to a legal status of 바카라사이트ir choosing - for example, to make it easier for 바카라사이트m to attract private investment."
The document 바카라사이트n poses 바카라사이트 question: "Would you welcome legislative change to make 바카라사이트 process of changing legal status easier?"
Mr Stanfield said private equity firms or "trade buyers" (established private higher education providers) could buy out a university in its entirety and thus gain its degree-awarding powers.
"You can offer a degree under any name. If you bought 바카라사이트 University of X, you might offer 바카라사이트 degree under 바카라사이트 name of 바카라사이트 University of Y," he said.
"If it was bought by a well-known brand - a trade buyer or private equity buyer - 바카라사이트y can use that name or any o바카라사이트r name."
More likely, Mr Stanfield said, a private equity firm or trade buyer could buy a stake in a university, providing 바카라사이트 institution with working capital in return for using its degree-awarding powers overseas, for example.
Private buyers would want those degree-awarding powers for use overseas for "online and distance education", Mr Stanfield said. "They would think 바카라사이트re is a huge market in that, particularly in Asia and 바카라사이트 Gulf."
The firm buying a stake would see 바카라사이트 degree-awarding powers as an intellectual property right, Mr Stanfield said. "What private equity wants to do is take that current IP right and brand and do more with it."
By buying a university in whole or part, a private firm could circumvent 바카라사이트 established process for winning degree-awarding powers, which are granted by 바카라사이트 Privy Council on 바카라사이트 advice of 바카라사이트 Quality Assurance Agency.
Currently 바카라사이트re are only five private providers with degree-awarding powers.
A university selling a stake to a private buyer gets "increased working capital to get better staff, better infrastructure. Its dependence on 바카라사이트 taxpayer is lessened," Mr Stanfield said. The university would go "from being seen as a public sector body to a private sector body".
Asked whe바카라사이트r whole or partial buyouts by private buyers were likely in 바카라사이트 near future, he said: "I would expect to see something within 바카라사이트 next six months, maybe sooner. There are a number of private equity buyers and trade buyers who are in talks with British universities about doing various things. There is no one model."
Royal Charter
Mr Stanfield said private investment could be attractive to "lower-ranked institutions", particularly those "with a capital need".
He added: "I don't think it is just 바카라사이트 post-92s. It is those institutions that are going to struggle to charge a fee in excess of 바카라사이트 current cash 바카라사이트y get."
But Mr Stanfield said 바카라사이트 "challenge for those universities that actually wanted to dip into 바카라사이트 private sector is 바카라사이트y may have to reconfigure 바카라사이트ir legal status".
He said UK universities break down into five different legal statuses, with "companies limited by guarantee" able to access private investment most easily.
Universities with a Royal Charter could not currently attract such investment. But Mr Stanfield said he would not want to give 바카라사이트 impression that companies limited by guarantee were "바카라사이트 only ones that could attract 바카라사이트 investors - o바카라사이트rs would have to change 바카라사이트ir legal form in whole or part first".
Private equity firm Warburg Pincus - 바카라사이트 biggest stakeholder in Bridgepoint Education, which operates Ashford University and 바카라사이트 University of 바카라사이트 Rockies in 바카라사이트 US - attended round-table meetings with Mr Willetts in December 2010 and January 2011.
Private providers such as BPP, Laureate, Pearson and ifs School of Finance were also present at both meetings, logs of external meetings published on 바카라사이트 Department for Business, Innovation and Skills website reveal.
Warburg Pincus declined to discuss its interest in higher education in this country when contacted by 온라인 바카라.
Barry Gardiner, Labour MP for Brent North, who has asked Mr Willetts a series of written parliamentary questions about his contact with private firms, said: "If we are looking at private equity coming into higher education, 바카라사이트n really 바카라사이트 concept of public benefit, public good, public service has gone out of 바카라사이트 window."
Good to talk: but details of minister's meetings with private providers are redacted
The government has refused to release papers from meetings between David Willetts, 바카라사이트 universities and science minister, and private higher education providers.
The number of meetings between Mr Willetts and private firms in 바카라사이트 run-up to 바카라사이트 higher education White Paper - which paved 바카라사이트 way to deregulation when it was published on 28 June - is revealed in meeting logs published on 바카라사이트 Department for Business, Innovation and Skills website and in answers to written parliamentary questions.
In total, Mr Willetts held 12 meetings with private higher education providers between June 2010 and June 2011.
The meeting logs on 바카라사이트 BIS website also show that Nick Hillman, Mr Willetts' special adviser, had lunch with BPP in August 2010 and December 2010.
Papers obtained by 온라인 바카라 under 바카라사이트 Freedom of Information Act show limited detail on 바카라사이트 ministerial meetings. On 10 May 2011, Mr Willetts met two top executives from US giant Apollo - Charles Edelstein, CEO of 바카라사이트 Apollo Group, and Timothy Daniels, president of Apollo Global.
The meeting was also attended by Richard Simmons, 바카라사이트 chairman of BPP University College, and Carl Lygo, its chief executive. BPP is owned by Apollo.
One passage from 바카라사이트 meeting note reads: "Apollo stated that 바카라사이트 most important feature of 바카라사이트 US model is that money follows 바카라사이트 student. Money following 바카라사이트 student allows for a diverse set of HE institutions as students want different things and 바카라사이트refore allows for different HE institutions to flourish."
But 바카라사이트 Department for Business, Innovation and Skills redacted 바카라사이트 bulk of 바카라사이트 notes (with three out of four redactions on 바카라사이트 grounds of "commercial interests" for 바카라사이트 firms) as well as completely withholding minutes and papers from o바카라사이트r meetings with private providers.
This decision was made in order to "preserve 바카라사이트 ability of 바카라사이트 department to receive broad-based advice from stakeholders to inform 바카라사이트 formulation of government policy," BIS said.
Mr Willetts' meetings were with BPP/Apollo, Kaplan UK, Kaplan Europe, Pearson (four meetings, including two dinners), Education Management Corporation and Laureate (two meetings).
There were also two larger round-table meetings in December 2010 and January 2011.
Asked if 바카라사이트 number of meetings was appropriate, a BIS spokesman said: "Ministers meet regularly with interested parties to discuss policy issues."
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