The College of Law (CoL) is in the throes of a full-scale strategic review that could lead to the potential sale of the institution.
Chief executive Nigel Savage confirmed the move, launched in July and reported this morning by legal website RollonFriday, but played down suggestions that a sale was imminent.
He added: “Higher education has becoming increasingly global so it’s important that we take a closer look at the college’s business model such as whether we should be gaining a foothold in Asia. This could be achieved via a series of joint ventures so a sale is only a possibility.”
The review comes amidst a complete shake-up of the postgraduate legal education sector, which included the takeover in 2009 of CoL’s main rival BPP Law School by US-based Apollo Global – a joint venture between Apollo Group and private equity house The Carlyle Group – for £300m.
A spokesperson for the CoL added in a statement: “”The governors are currently undertaking a strategic review, as it is only right that the College considers options for its future development in light of exciting opportunities presented by changes in higher education.”
CoL, which has a turnover of around £75m, is being advised by magic circle firm and longstanding legal counsel Allen & Overy. Any sale of CoL would mean the Legal Practice Course provider losing is charity status.
Lawyer 2B is the leading dedicated news-led magazine and website for aspiring solicitors and barristers and is an ideal tool for boosting commercial awareness. Lawyer2B magazine is published four times a year.