HOUSE_OVERSIGHT_024506.jpg
2.32 MB
Extraction Summary
3
People
7
Organizations
2
Locations
2
Events
4
Relationships
3
Quotes
Document Information
Type:
Corporate offering memorandum / business structure report
File Size:
2.32 MB
Summary
This document (Page 73, House Oversight stamp 024506) outlines the corporate structure and management of Knowledge Universe Education (KUE). It identifies Michael Milken, Lowell Milken, and Steven Green as the 'Principals' and controlling shareholders, detailing KUE's ownership stakes in subsidiaries KLC and k12. The text also discloses a financial arrangement wherein KUE pays KULG $20 million annually for services starting July 1, 2006.
People (3)
| Name | Role | Context |
|---|---|---|
| Michael Milken | Controlling Shareholder/Principal |
Controlling shareholder of the General Partner; has over two decades of experience in the education sector.
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| Lowell Milken | Controlling Shareholder/Principal |
Controlling shareholder of the General Partner; has over two decades of experience in the education sector.
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| Steven Green | Controlling Shareholder/Principal |
Controlling shareholder of the General Partner; former U.S. ambassador to Singapore; international industrialist.
|
Organizations (7)
| Name | Type | Context |
|---|---|---|
| Knowledge Universe Education (KUE) |
Third largest for-profit education company in the world; subject of the document.
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|
| KLC |
Subsidiary of KUE (87.6% ownership).
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|
| k12 |
Company in which KUE is a major shareholder (17.9% to 40.0% equity).
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| KLC PropCo |
Special purpose subsidiary owning real estate.
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| KLC OpCo |
Subsidiary holding customer contracts and operations.
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| KULG |
Entity providing services to KUE in exchange for payment.
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| House Oversight Committee |
Implied by document stamp 'HOUSE_OVERSIGHT_024506'.
|
Relationships (4)
The controlling shareholders of the General Partner are Michael Milken... (collectively the 'Principals').
The controlling shareholders of the General Partner are... Lowell Milken... (collectively the 'Principals').
The controlling shareholders of the General Partner are... Steven Green... (collectively the 'Principals').
These services will be performed for the Company by KULG, for which KUE will pay $20.0 million annually...
Key Quotes (3)
"KUE is the third largest for-profit education company in the world."Source
HOUSE_OVERSIGHT_024506.jpg
Quote #1
"KUE represents the Principals' sole vehicle for equity investment opportunities in the early education through secondary school sector going forward."Source
HOUSE_OVERSIGHT_024506.jpg
Quote #2
"KUE will pay $20.0 million annually to KULG in quarterly installments beginning July 1, 2006 pursuant to the Fixed Overhead Payment Agreement."Source
HOUSE_OVERSIGHT_024506.jpg
Quote #3
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