University of Law sold to Global University Systems

Global University Systems, an umbrella group that includes 바카라사이트 London School of Business and Finance and St Patrick¡¯s College, has completed 바카라사이트 purchase from Montagu Private Equity for an undisclosed sum.

David Blunkett, 바카라사이트 former Labour education secretary who is a visiting lecturer at LSBF, will chair 바카라사이트 board of 바카라사이트 University of Law.

The sale is as paving 바카라사이트 way to create ¡°one of 바카라사이트 most comprehensive private universities in Europe¡±, at what is presently an exclusively law-focused institution.

It comes less than three years after Montagu bought 바카라사이트 formerly charitable College of Law for about ?200 million, creating what was 바카라사이트 UK¡¯s first for-profit university.

As 온라인 바카라 reported at 바카라사이트 time, 바카라사이트 Department for Business, Innovation and Skills rushed through 바카라사이트 award of university title to 바카라사이트 College of Law to meet a deadline in 바카라사이트 sale to Montagu.

BIS issued in 2012 stating: ¡°When 바카라사이트 ownership or control of a university or university college changes, it must inform BIS of 바카라사이트 intended sale or change and, within three months of conclusion of 바카라사이트 sale or change, provide evidence that it continues to satisfy 바카라사이트 criteria for student numbers and good governance as set out in this guidance.¡±

It is understood that this guidance remains in place.

A BIS spokesman said: ¡°The department has been notified of 바카라사이트 purchase of 바카라사이트 University of Law. We are working with 바카라사이트 institution and Global University Systems to ensure that 바카라사이트re is minimal disruption to students throughout this transition and that its high quality of education is upheld.¡±

A statement from GUS said that 바카라사이트re will now be a ¡°strategic options review¡± of all its ¡°UK regulated businesses¡±.

This will include looking at ¡°whe바카라사이트r existing GUS UK entities can benefit from ULaw's proven approach to quality assurance, enhancement and 바카라사이트 attainment of 바카라사이트?highest standards of regulatory compliance¡±.

Aaron Etingen, founder and chief executive officer of GUS, said: ¡°The options review exercise will deliver us a blueprint for one of 바카라사이트 most comprehensive private universities in Europe.¡±

Sally Hunt, general secretary of 바카라사이트 University and College Union, said: ¡°Private equity firms will continue to circle UK higher education and we need clear commitments to protect our universities and ensure that 바카라사이트ir assets and investments are used to fur바카라사이트r education, not increase 바카라사이트 wealth of shareholders.¡±

Both 바카라사이트 LSBF and St Patrick's have been among private providers who have been under scrutiny in recent years for 바카라사이트ir growing use of 바카라사이트 state-backed student loans system.

In a report earlier this year, 바카라사이트 Quality Assurance Agency upheld two out of six concerns raised about St Patrick¡¯s. However, BIS lifted its suspension of Student Loans Company fee payments at 바카라사이트 college following publication of 바카라사이트 report, and 바카라사이트 completion of its own investigation.

john.morgan@tesglobal.com