Infosec Institute is owned by Cengage, the education company that until recently called itself Cengage Group. Cengage bought Infosec for $191 million in 2022. Cengage itself is controlled by four private equity firms: Apollo, Apax, KKR and Searchlight Capital Partners.
If you’re about to hand a training company a few thousand dollars, it’s worth knowing who actually stands behind it. Here’s the chain of ownership, built entirely from Cengage’s own press releases and financial reports.
When did Cengage buy Infosec Institute?
Cengage announced the deal on January 31, 2022 and completed it on March 1, 2022, for $191 million. At the time Infosec was led by its founder, Jack Koziol, whom the announcement quotes as “CEO and Founder of Infosec.” Cengage said Infosec would join its ed2go business inside its Workforce Skills division, now called Cengage Work, and promised it “will retain and invest in Infosec employees and products to support future growth.”
By March 2026, a Cengage press release identified Stefan Evers as General Manager of Infosec.
Who owns Cengage?
Cengage’s fiscal 2026 annual report says plainly: “we are controlled by affiliates of Apollo Global Management, Inc. (“Apollo”), Apax Partners, L.L.P. (“Apax”), KKR & Co. Inc. (“KKR”), and Searchlight Capital Partners LLC.” It lists that control as a risk, noting that “the interests of the Principal Equity Owners may conflict with the interests of other stockholders.”
Apollo’s stake grew in 2023, when Cengage announced on April 17, 2023 that Apollo funds would buy “$500 million of a new series of convertible preferred stock.”
Is Cengage going public?
It’s trying to. In a current report posted to its investor site, Cengage disclosed that on January 30, 2026 it announced it had “confidentially submitted a draft registration statement on Form S-1” with the SEC for a proposed initial public offering. The same report records the company changing its legal name from Cengage Learning Holdings II, Inc. to Cengage, Inc. Bloomberg reported on January 16, 2026 that Cengage was weighing an IPO that could raise roughly $500 million.
Why does ownership matter if you’re choosing a boot camp?
Because the owner’s view of Infosec has changed sharply since 2022. Cengage has since written off all $101.6 million of Infosec’s goodwill and $62.4 million of its other intangible assets, and in February 2026 its CFO told investors the company was “managing costs” in the Infosec business. On the same call, CEO Michael Hansen said Cengage is “unifying all businesses under a single Cengage brand.” A company preparing to go public has every reason to trim units that aren’t growing. I cover the numbers in detail in the write-off post and what the 2026 earnings calls said.
Frequently asked questions
Who owns Infosec Institute?
Cengage, Inc. (formerly Cengage Group) owns Infosec Institute. It completed its $191 million acquisition on March 1, 2022.
Who owns Cengage?
Cengage’s annual report says it is controlled by affiliates of Apollo Global Management, Apax Partners, KKR and Searchlight Capital Partners.
Who founded Infosec Institute?
Jack Koziol, who Cengage’s 2022 acquisition announcement describes as “CEO and Founder of Infosec.” Cengage says Infosec was founded in 2004.
Who runs Infosec Institute now?
A March 2026 Cengage press release identifies Stefan Evers as General Manager of Infosec.
Is Cengage going public?
Cengage announced on January 30, 2026 that it had confidentially submitted a draft Form S-1 registration statement to the SEC for a proposed IPO. As of this writing no public registration statement has been filed.
Sources
- Cengage Group, “Cengage Group to Acquire Infosec,” January 31, 2022: cengagegroup.com
- Cengage Group, “Cengage Group Completes Acquisition of Infosec,” March 1, 2022: cengagegroup.com
- Cengage Group, “Cengage Group Announces $500 Million Investment From Apollo Funds,” April 17, 2023: cengagegroup.com
- Cengage, Inc., Annual Report for the fiscal year ended March 31, 2026: cengage.widen.net
- Cengage, Inc., current report dated January 27, 2026 (name change and confidential S-1): cengage.widen.net
- Bloomberg, “KKR-Backed Cengage Is Said to Weigh $500 Million IPO This Year,” January 16, 2026: news.bgov.com
- Cengage press release naming Infosec’s General Manager, March 19, 2026: cengagegroup.com
- Cengage Q3 fiscal 2026 earnings call transcript, February 19, 2026: finance.biggo.com
Part of my full Infosec Institute review roundup: every complaint, the pass-rate claims, and better ways to prepare for the CISSP, all in one place.
