Apollo Global, an American global private equity firm, agreed to invest $500m in Cengage Group, a global edtech company. "This investment is a strong affirmation of our performance and strategy by an investor who has deep knowledge of our industry and a track record of value creation. By replacing debt with equity capital from Apollo Funds, we are meaningfully reducing outstanding debt giving us optionality to invest in our portfolio of growing businesses," Michael E. Hansen, Cengage Group CEO.