Andre Agassi Profiteering Off Charter School Mania
Tennis star Andre Agassi has partnered his Andre Agassi Ventures L.L.C. with Canyon Capital Realty Advisors, a private equity real estate company based in Los Angeles, to help charter schools purchase facilities. The joint venture, known as the Canyon-Agassi Charter School Facilities Fund, recently clinched their first deal, securing housing for the KIPP Philadelphia Elementary Academy, according to Philly.com.
Agassi’s new fund is backed by numerous corporate investors, including Citi, Intel Capital, and the Ewing Marion Kauffman Foundation in Kansas City, Mo. The venture also plans to exploit New Market Tax Credits and tax-exempt bonds, allowing its investors to pocket money that the feds and states could be using to bolster public schools. However, the biggest profits may