This makes no sense. Don’t liberals despise for-profit education?

The Daily Caller reports.

America’s Largest For-Profit College Sold To Group Led By Obama’s ‘Best Friend’

Apollo Education Group, the company that owns the large but struggling University of Phoenix, is being sold to private investors led by a firm notable for its extensive ties to President Barack Obama’s administration.

Apollo announced in January that it was looking for a buyer interested in patching up a college that appears to be in deep trouble. While it remains the U.S.’s largest for-profit college, the University of Phoenix has seen its enrollment plunge from over 450,000 students six years ago to less than 180,000 today. The bleeding hasn’t stopped yet — dozens of its campuses around the country have closed.

Some investors see opportunity in this decline and now Apollo has the saviors it has been looking for. On Monday, the company announced it is being bought by a consortium that includes Vistria Group, Najafi Companies, and Apollo Global Management. The companies plan to take Apollo Education private, with Vistria Chief Operating Officer Tony Miller becoming chairman of the company’s board of directors. The deal is valued at about $1.1 billion.

The development is interesting in at least one regard, even for those not caught up in the world of finance. Vistria Group, the leading figure in the deal, has major connections with Obama. Vistria’s founder and current co-CEO is Martin Nesbitt, who has known Obama for decades and has been described by Politico as Obama’s “best friend.” Among other things, Nesbitt currently heads the foundation planning Obama’s presidential library.