UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 20)
Under the Securities Exchange Act of 1934
CAREER EDUCATION CORPORATION
-----------------
(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
-----------------------------
(Title of Class of Securities)
141665109
---------
(CUSIP Number)
Cecilia B. Kwan
Blum Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 9, 2015
--------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Section 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box [ ].
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
Page 1 of 13
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 2 of 13
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 94-3205364
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
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** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 3 of 13
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 94-2967812
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
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3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 4 of 13
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1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 04-3809436
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 5 of 13
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1. NAME OF REPORTING PERSON BLUM STRATEGIC GP III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 02-0742606
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 6 of 13
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC PARTNERS III, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 04-3809438
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 7 of 13
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1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588693
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 8 of 13
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588732
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 9 of 13
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC PARTNERS IV, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 26-0588744
-----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 5,517,142**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 5,517,142**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,517,142**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 10 of 13
Item 1. Security and Issuer
----------------------------
This Amendment No. 20 amends the Statement on Schedule 13D (the "Schedule
13D") filed with the Securities and Exchange Commission on January 20, 2015
by Blum Capital Partners, L.P., a California limited partnership, ("Blum
LP"); Richard C. Blum & Associates, Inc., a California corporation ("RCBA
Inc."); Blum Strategic GP III, L.L.C., a Delaware limited liability company
("Blum GP III"); Blum Strategic GP III, L.P., a Delaware limited partnership
("Blum GP III LP"); Blum Strategic Partners III, L.P., a Delaware limited
Partnership ("Blum Strategic III"); Blum Strategic GP IV, L.L.C., a Delaware
Limited liability company ("Blum GP IV"); and Blum Strategic GP IV, L.P., a
Delaware limited partnership ("Blum GP IV LP"); Blum Strategic Partners IV,
L.P., a Delaware limited partnership ("Blum Strategic IV") (collectively, the
"Reporting Persons").
This amendment to the Schedule 13D relates to shares of common stock, $.01
par value per share (the "Common Stock") of Career Education Corporation, a
Delaware corporation (the "Issuer"). The principal executive office and
mailing address of the Issuer is 231 N. Martingale Road, Schaumburg,
Illinois 60173.
The following amendments to the Schedule 13D are hereby made. Unless
Otherwise defined herein, all capitalized terms shall have the meaning
ascribed to them in the Schedule 13D as previously amended.
Item 2. Identity and Background
--------------------------------
There have been no changes to Item 2 since the Schedule 13D Amendment
filed on January 20, 2015.
Item 3. Source and Amount of Funds or Other Considerations
------------------------------------------------------------
There have been no changes to Item 3 since the Schedule 13D Amendment
filed on December 19, 2007.
Item 4. Purpose of Transaction
--------------------------------
There have been no changes to Item 4 since the Schedule 13D Amendment
filed on February 28, 2012.
CUSIP NO. 141665109 SCHEDULE 13D Page 11 of 13
Item 5. Interest in Securities of the Issuer
---------------------------------------------
(a), (b) According to the Issuer's Form 10-Q filed with the Securities and
Exchange Commission on November 6, 2014, there were 67,278,590 shares of
Common Stock issued and outstanding as of October 31, 2014. Based on such
information, after taking into account the transactions described in Item
5(c) below, the Reporting Persons report beneficial ownership of the
Following shares of Common Stock: (i) 17,779 shares of Common Stock held
directly by RCBA Inc., which represents 0.0% of the outstanding shares of
the Common Stock; (ii) 2,192,768 shares of the Common Stock held by
Blum GP III which serves as general partner of Blum GP III LP which,
in turn, serves as the general partner of Blum Strategic III, which
represents 3.3% of the outstanding shares of the Common Stock; and
(v) 3,306,595 shares of the Common Stock held by Blum GP IV which serves
as general partner of Blum GP IV LP which, in turn, serves as the general
partner of Blum Strategic IV, which represents 4.9% of the outstanding
shares of the Common Stock.
Voting and investment power concerning the above shares are held solely by
Blum LP, Blum GP III and Blum GP IV. The Reporting Persons therefore may be
deemed to be members in a group, in which case the group would be deemed to
have beneficial ownership of an aggregate of 5,517,142 shares of the Common
Stock, which is 8.2% of the outstanding Common Stock. As the sole general
partner of Blum LP, RCBA Inc. is deemed the beneficial owner of the
securities over which Blum LP has voting and investment power. The filing of
this Schedule shall not be construed as an admission that any of the
shareholders, directors or executive officers of RCBA Inc. or the managing
members and members of Blum GP III, Blum GP III LP, Blum GP IV and Blum GP
IV LP, is, for any purpose, the beneficial owner of any of the securities
that are beneficially owned by RCBA Inc., Blum GP III LP, Blum GP III, Blum
GP IV LP and Blum GP IV.
CUSIP NO. 141665109 SCHEDULE 13D Page 12 of 13
(c) The reporting Persons have made the following transactions in the Common
Stock of the Issuer since the last 13D Amendment filed on January 20, 2015:
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
For Blum Strategic III for 01-21-2015 51,600 5.8237
which Blum GP III LP serves 01-22-2015 70,176 5.8614
as the general partner and 01-23-2015 50,000 5.8226
for Blum GP III which 01-26-2015 45,100 5.7752
serves as the general 01-27-2015 45,124 5.7180
partner for Blum GP III LP 01-28-2015 75,352 5.7180
01-29-2015 49,129 5.7956
01-30-2015 31,000 5.7181
02-02-2015 45,000 5.6945
02-03-2015 60,000 5.8647
02-04-2015 55,119 6.0333
02-05-2015 60,000 6.1347
02-06-2015 25,200 6.1773
02-09-2015 99,200 6.3614
02-10-2015 40,142 6.2899
02-11-2015 42,716 6.3685
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
-----------------------------------------------------------------------------
There have been no changes to Item 6 since the Schedule 13D Amendment
filed on November 19, 2008.
Item 7. Material to be Filed as Exhibits
------------------------------------------
Exhibit A - Joint Filing Undertaking
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 13 of 13
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: February 11, 2015
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------- --------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Chief Financial Officer Chief Financial Officer
and Chief Compliance Officer and Chief Compliance Officer
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------ ---------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Member Member
BLUM STRATEGIC PARTNERS III, L.P. BLUM STRATEGIC GP IV, L.L.C.
By: Blum Strategic GP III, L.P.,
its General Partner
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------ ---------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Member Member
BLUM STRATEGIC GP IV, L.P. BLUM STRATEGIC PARTNERS IV, L.P.
By: Blum Strategic GP IV, L.L.C. By: Blum Strategic GP IV, L.P.,
its General Partner its General Partner
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------ ---------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Member Member
* * * * *
CUSIP NO. 141665109 SCHEDULE 13D Page 1 of 1
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: February 11, 2015
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------- --------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Chief Financial Officer and Chief Financial Officer and
Chief Compliance Officer Chief Compliance Officer
BLUM STRATEGIC GP III, L.L.C. BLUM STRATEGIC GP III, L.P.
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------ ---------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Member Member
BLUM STRATEGIC PARTNERS III, L.P. BLUM STRATEGIC GP IV, L.L.C.
By: Blum Strategic GP III, L.P.,
its General Partner
By: Blum Strategic GP III, L.L.C.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------ ---------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Member Member
BLUM STRATEGIC GP IV, L.P. BLUM STRATEGIC PARTNERS IV, L.P.
By: Blum Strategic GP IV, L.L.C. By: Blum Strategic GP IV, L.P.,
its General Partner its General Partner
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Cecilia B. Kwan By: /s/ Cecilia B. Kwan
------------------------------ ---------------------------------
Cecilia B. Kwan Cecilia B. Kwan
Member Member