Dear Friends and Colleagues,

Back in April 2015 we announced the news of our partnership with USA Funds through the
formation of the Education Opportunity Fund (EOF). This marks a significant milestone for our
firm. It is our first-ever sector-focused fund and allows us to participate in the funding of growthstage, purpose-driven companies in the education sector. Through our efforts at EOF, we aim to
invest in companies that are making a difference and to partner with entrepreneurs and
executives who are setting the strategic course and driving forward change. We believe that we
can accomplish both positive social impact and economic value creation.
In this inaugural letter, we will share news and offer the opportunity to connect. Our efforts are
made possible by the ideas and referrals from all of you, and for that we are grateful. Please visit
our new website at educationfund.sterlingpartners.com.

ANNOUNCEMENTS

The Education Opportunity

Fund Welcomes NRCCUA Into
Portfolio
Sterling Partners Education Opportunity Fund
and USA Funds have announced a strategic
partnership with the National Research Center
for College & University Admissions
(NRCCUA).
READ MORE

FEATURED NEWS

Shoshana Vernick, EOF MD,

Named One of Chicago Inno's
"50 on Fire"

Get Schooled On the

For-Profit Education
Market

Chicago Inno announced the winners of its 50

on Fire awards on December 2, 2015 during a
celebration at the Lacuna Artists Loft Studios.
The 50 on Fire Chicago awards are held
annually to honor the years most
groundbreaking individuals.

Listen to the playback of this Middle Market

Growth Conversation webinar as we take a
look inside the for-profit education market with
Kim Vender Moffat, Principal with Sterling
Partners, and Daniel Alfe, Director with
investment bank Baird.

READ MORE

READ MORE

INTRODUCING OUR NEW HIRES

Brian Schwartz, Principal

Brian Schwartz joined our team as a Principal in February 2016 and
comes with ten years of private equity investment experience. Brian
was previously with Huron Capital Partners, a middle market private
equity firm, where he was responsible for originating, evaluating, and
executing investments for the firm. Prior to Huron, Brian was an
investment professional at LaSalle Capital Group and RCP Advisors.
Brian received his MBA with honors from The University of Chicago,
and his BBA with distinction from the University of Michigan. He
enjoys traveling and outdoor activities such as alpine and backcountry
skiing. Brian survived running with the bulls in Pamplona, Spain and
dove with great white sharks in the Indian Ocean. Brian and his wife
Jenny are excited to be moving (back) to Chicago.

Alana Rush, Senior Associate

Alana Rush joined our team as a Senior Associate in August 2015.
Alana was previously with The Parthenon Groups Education Practice
where she advised investors, education companies, and government
leaders across the US, Middle East, and Asia, and before that was on
the teaching faculty at Phillips Academy Andover. Alana has her MBA
from The Wharton School at the University of Pennsylvania, where
she was President of her class, and her BS from the University of

Florida. Alana is an avid traveler and has been to all seven continents.
In Chicago, she sits on the Wharton Alumni Club of Chicago board
and volunteers regularly at a homeless youth shelter.

EOF is Hiring at the Senior Associate or Associate Level

We are looking for exceptional candidates to join our team. Associates will primarily focus on
industry and company-specific research and analysis to support sourcing and diligence around
new investments. Associates generally have between 4-6 years of professional experience
across finance, investment, and strategy roles. This is an exciting opportunity to get in on the
ground floor of a new investment platform within a large and well-established private equity firm.
Please direct your referrals to recruitment@sterlingpartners.com.

RECENT & UPCOMING EVENTS

Using Partnerships to Unlock Investment Opportunities

Across the Education Life Cycle
Jason Rosenberg, EOF Managing Director, chaired the Capital Roundtable conference Using
Partnerships to Unlock Investment Opportunities Across the Education Life Cycle in NYC on
February 23, 2016. Jason opened the day-long event by framing five important areas that will
see an increase in private sector investment in the upcoming decade:
Partnerships that Advance Innovation & Efficiency in Traditional Higher Ed
Addressing Workforce Skills Gaps and Necessity for Lifelong learning
Adaptive Learning Opportunities in the Wake of K12 Digital Transformation
Accelerating Demand for a US Education and Creation of a Global Campus
Rethinking the Connection Between Education, Training, and Employability
At the same education conference, Shoshana provided her perspectives on Dealmaking in the
Current Landscape: Identifying Pockets of Growth & Overcoming Unfavorable Trends. While
the K12 sector has had challenges compared to Higher Education and Lifelong Learning,
Shoshana highlighted some near-term investor interest in the early education space and pockets
of K12 including assessment-based digital curriculum, school operations, and teacher
professional development.

The Education Opportunity Fund Will Host a Series of Salon

Dinners Throughout 2016
Our goal is to bring together thought-leaders in the education sector to connect over meaningful
conversation. At the first Salon Dinner on February 22nd in NYC, we hosted 24 executives and
industry leaders from the public and private sectors and had a lively discussion on trends and
opportunities in K12, Higher Education, and Lifelong Learning.

Upcoming Events
EOF is a sponsor at the ASU GSV Summit in San Diego from April
18-20. We look forward to continuing the conversation and seeing
many of you there as well.

CONTACT US

EOF will provide between $10M and $25M of capital per investment platform to distinctive
companies that have reached proof of concept and commercial adoption, and are ready to scale.
If you know of any interesting opportunities please contact us directly.

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Sterling Partners 401 N. Michigan Ave. Suite 3300 Chicago, IL 60611 USA