LOS ANGELES — FEBRUARY 15, 2024 — Shamrock Capital, a Los Angeles-based investment firm specializing in media, entertainment, communications, sports, marketing, and education sectors today announced a significant investment in Carnegie Dartlet Holdings, LLC (“Carnegie” or “the Company”), a leading, full-service marketing and enrollment strategy provider for non-profit higher education institutions.

“Education institutions are increasingly looking to outside agencies to help them navigate an increasingly competitive enrollment environment that has resulted from decreasing conversion rates, flexible standardized test requirements, and the shift from traditional to digital marketing channels,” said Michael Wilkins, Partner at Shamrock Capital. “Led by Chairman Joe Moore and Chief Executive Officer Gary Colen, Carnegie has evolved into a brand synonymous with innovation for higher education enrollment marketing, and we believe we can leverage Shamrock’s deep knowledge of marketing, education and content to support additional organic and inorganic growth initiatives and further enhance the mission-critical solutions it provides.”

“Carnegie was founded on the belief that human connection is a key component of matching colleges and students, and that belief is reflected in the stability of our leadership, strong company culture, and deep relationships we have built with our customers,” added Chief Executive Officer, Gary Colen. “Shamrock shares in both our strategic vision and our passion for the work we do. The Firm’s focus on education, paired with its deep experience in marketing services and transactions within the sector, make its team the ideal partner for our next phase of growth.”

Headquartered in Westford, Massachusetts, Carnegie was founded over 30 years ago by Joe Moore as a magazine for prospective college students to find their best fit schools, before merging with Dartlet in 2018. Today, Carnegie’s approximately 390 employees support over 750 clients, including small community colleges and large state and private universities, helping them connect with prospective students and optimize enrollment through a suite of services including digital marketing strategies, research, and enrollment management solutions. Since 2021, Carnegie has successfully completed and integrated six acquisitions that have effectively expanded both its product offering and customer base.

Willkie Farr & Gallagher LLP served as legal advisor to Shamrock Capital on the transaction. Robert W. Baird & Co. served as financial advisor and Choate Hall & Stewart LLP and Reinhart Boerner Van Deuren s.c. served as legal advisors to Carnegie on the transaction.

About Carnegie Dartlet

Carnegie (Carnegie Dartlet LLC) is a higher education enrollment marketing and strategy leader that delivers custom marketing and enrollment solutions through integrated research, strategy, digital marketing, lead generation, Slate optimization, Student Search, financial aid optimization, creative, and web design + development. By generating quality connections between universities and students, Carnegie drives enrollment success for its clients. Learn more at CarnegieHigherEd.com.

About Shamrock Capital

Shamrock Capital is a Los Angeles-based investment firm with approximately $4.2 billion of assets under management. Shamrock Capital invests exclusively in media, entertainment, communications, and related sectors through a multi-fund strategy centered on private equity investments, as well as ownership and financing of content and media rights. The firm was originally founded in 1978 as the family investment company for the late Roy E. Disney and has since evolved into an institutionally backed firm with a leading group of investors, including endowments, foundations, and sovereign wealth and pension funds. Shamrock Capital partners with strong management teams and takes an active, collaborative approach to creating value in each investment. For more information, visit www.shamrockcap.com.