Charter school capital projects: cashing in on kids
Business, EducationJun 12, 2011Investing hundreds of millions in new charter schools for 40,000 students nationwide is a huge goal and one born of a partnership between tennis pro and local charter-school developer Andre Agassi and Bobby Turner, chairman and chief executive of Canyon Capital Realty Advisors in Los Angeles. According to their website:
“Canyon Capital Realty Advisors LLC and its affiliate Canyon Capital Advisors LLC are registered investment advisors and money management firms based in Los Angeles, California, with approximately $19.2 billion of capital under management” (http://www.cc-ra.com/)
Turner said that he had an epiphany while reading Agassi’s 2009 autobiography, “Open.” The book charted Agassi’s professional and personal life and included a discussion of his experiences with Agassi Prep in Las Vegas, the school he started in 2007. Turner, who has partnered with basketball great Earvin “Magic” Johnson since 2001 to invest nearly $2 billion in urban residential and commercial projects nationwide, thought Agassi might have a few good ideas — and a good way to make some hard cash off of little boys