UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Class B Common Stock | Â (1) | Â (1) | Class A Common Stock | 1,345,292 | $ (1) | I | See Footnotes (2) (3) (4) (7) |
Class B Common Stock | Â (1) | Â (1) | Class A Common Stock | 523,027 | $ (1) | I | See Footnotes (2) (3) (5) (7) |
Class B Common Stock | Â (1) | Â (1) | Class A Common Stock | 255,622 | $ (1) | I | See Footnotes (2) (3) (6) (7) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
SP-L Parent, LLC C/O STERLING PARTNERS 401 N. MICHIGAN AVENUE, SUITE 3300 CHICAGO, IL 60611 |
 X |  X |  |  |
SP-L Management III, LLC C/O STERLING PARTNERS 401 N. MICHIGAN AVENUE, SUITE 3300 CHICAGO, IL 60611 |
 X |  X |  |  |
Sterling Laureate Executives Fund, LP C/O STERLING PARTNERS 401 N. MICHIGAN AVENUE, SUITE 3300 CHICAGO, IL 60611 |
 X |  X |  |  |
SP-L Management IV, LLC C/O STERLING PARTNERS 401 N. MICHIGAN AVENUE, SUITE 3300 CHICAGO, IL 60611 |
 X |  X |  |  |
Sterling Laureate Rollover, LP C/O STERLING PARTNERS 401 N. MICHIGAN AVENUE, SUITE 3300 CHICAGO, IL 60611 |
 X |  X |  |  |
SP-L Management V, LLC C/O STERLING PARTNERS 401 N. MICHIGAN AVENUE, SUITE 3300 CHICAGO, IL 60611 |
 X |  X |  |  |
Sterling Laureate, LP C/O STERLING PARTNERS 401 N. MICHIGAN AVENUE, SUITE 3300 CHICAGO, IL 60611 |
 X |  X |  |  |
/s/ M. Avi Epstein, attorney-in-fact for SP-L Parent, LLC | 01/31/2017 | |
**Signature of Reporting Person | Date | |
/s/ M. Avi Epstein, attorney-in-fact for SP-L Management III, LLC | 01/31/2017 | |
**Signature of Reporting Person | Date | |
/s/ M. Avi Epstein, attorney-in-fact for Sterling Laureate, LP | 01/31/2017 | |
**Signature of Reporting Person | Date | |
/s/ M. Avi Epstein, attorney-in-fact for SP-L Management IV, LLC | 01/31/2017 | |
**Signature of Reporting Person | Date | |
/s/ M. Avi Epstein, attorney-in-fact for Sterling Laureate Executives Fund, LP | 01/31/2017 | |
**Signature of Reporting Person | Date | |
/s/ M. Avi Epstein, attorney-in-fact for SP-L Management V, LLC | 01/31/2017 | |
**Signature of Reporting Person | Date | |
/s/ M. Avi Epstein, attorney-in-fact for Sterling Laureate Rollover, LP | 01/31/2017 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each share of Class B Common Stock ("Class B Common Stock") of Laureate Education, Inc. (the "Issuer") is convertible into one share of Class A Common Stock of the Issuer upon the election of the holder or upon transfer, subject to the terms of the Issuer's Amended and Restated Certificate of Incorporation. |
(2) | Represents shares of Class B Common Stock held directly by Wengen Alberta, Limited Partnership ("Wengen"), whose general partner is Wengen Investments Limited ("Wengen GP"). Certain investors, including, but not limited to, certain investment funds and other persons affiliated with or managed by Sterling Fund Management, LLC (including the Reporting Persons), Kohlberg Kravis Roberts & Co. L.P., Cohen Private Ventures, LLC, Bregal Investments, Inc., StepStone Group LP and Snow Phipps Group, LLC (collectively, the "Wengen Investors") have interests in the Issuer through Wengen. Certain Wengen Investors (including the Reporting Persons) have designated representatives who serve on the board of directors of Wengen GP. |
(3) | Each of Douglas L. Becker and Steven M. Taslitz serves as a designated representative of the Reporting Persons on the board of directors of the Issuer pursuant to a securityholders agreement. As of January 31, 2017, John A. Miller also serves as a designated representative of the Reporting Persons on the board of directors of the Issuer. Mr. Miller's service as such will terminate upon the consummation of the initial public offering of Class A Common Stock of the Issuer. |
(4) | Sterling Laureate, LP may be deemed to indirectly beneficially own these shares of Class B Common Stock in the Issuer by virtue of its limited partnership interests in Wengen. SP-L Management III, LLC is the general partner of Sterling Laureate, LP, and SP-L Parent, LLC ("SP-L Parent") is the general partner of SP-L Management III, LLC. Messrs. Becker and Taslitz and R. Christopher Hoehn-Saric are the managers of SP-L Parent. |
(5) | Sterling Laureate Executives Fund, LP may be deemed to indirectly beneficially own these shares of Class B Common Stock in the Issuer by virtue of its limited partnership interests in Wengen. SP-L Management IV, LLC is the general partner of Sterling Laureate Executives Fund, LP, and SP-L Parent is the general partner of SP-L Management IV, LLC. Messrs. Becker, Taslitz and Hoehn-Saric are the managers of SP-L Parent. |
(6) | Sterling Laureate Rollover, LP may be deemed to indirectly beneficially own these shares of Class B Common Stock in the Issuer by virtue of its limited partnership interests in Wengen. SP-L Management V, LLC is the general partner of Sterling Laureate Rollover, LP, and SP-L Parent is the general partner of SP-L Management V, LLC. Messrs. Becker, Taslitz and Hoehn-Saric are the managers of SP-L Parent. |
(7) | Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. This filing shall not be deemed an admission that any of the Reporting Persons is subject to Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership by such Reporting Person of any securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise. |
 Remarks: Because no more than 10 reporting persons can file any one Form 3 through the Securities and Exchange Commission's EDGAR system, Sterling Fund Management, LLC, Sterling Capital Partners II, L.P., Sterling Capital Partners III, L.P., SC Partners II, L.P., SC Partners III, L.P., Sterling Capital Partners II, LLC, Sterling Capital Partners III, LLC, SP-L Affiliate, LLC, KJT 2013 Gift Trust, 2002 GST Exempt Harvest Trust, DLB Irrevocable Telecom Trust u/a/d/ 1/3/05, The Irrevocable BBHT II IDGT and Messrs. Becker, Taslitz and Hoehn-Saric have made separate Form 3 filings; provided, that, for purposes of Footnotes 2 and 3 above, each of such persons should be considered a Reporting Person. Exhibit List: Exhibit 24 - Powers of Attorney |