SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* StepStone Group LLC (Last) (First) (Middle) 410 PARK AVENUE SUITE 1710 (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 09/30/2010	3. Issuer Name and Ticker or Trading Symbol EDUCATION MANAGEMENT CORPORATION [ EDMC ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.01 per share	1,191,522(1)	I	See footnote(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* StepStone Group LLC (Last) (First) (Middle) 410 PARK AVENUE SUITE 1710 (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* StepStone Co-Investment Funds GP, LLC (Last) (First) (Middle) 410 PARK AVENUE SUITE 1710 (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CITIGROUP CAPITAL PARTNERS II ONSHORE L P (Last) (First) (Middle) 388 GREENWICH STREET (Street) NEW YORK NY 10013 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Citigroup Capital Partners II Cayman Holdings, L.P. (Last) (First) (Middle) 388 GREENWICH STREET 32ND FLOOR (Street) NEW YORK NY 10013 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Citigroup Capital Partners II 2006 Citigroup Investment, L.P. (Last) (First) (Middle) 388 GREENWICH STREET 32ND FLOOR (Street) NEW YORK NY 10013 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. StepStone Group LLC is the general partner of StepStone Co-Investment Funds GP, LLC ("StepStone Co-Investment), which is the general partner of each of 2006 Co-Investment Portfolio, L.P. ("StepStone Investment"), StepStone Capital Partners II Onshore, L.P. ("StepStone Onshore") and StepStone Capital Partners II Cayman Holdings, L.P. ("StepStone Cayman" and, together with StepStone Investment and StepStone Onshore, the "StepStone Funds")). StepStone Investment directly owns 556,126 Common Shares, StepStone Onshore directly owns 282,018 Common Shares and StepStone Cayman directly owns 353,378 Common Shares.

Remarks:

The reporting persons may be deemed to be members of a group beneficially owning 10% or more of the shares of common stock of the issuer ("Common Shares") within the meaning of Section 13(d) of the Securities Exchange Act of 1934. Except as set forth herein, the reporting persons disclaim beneficial ownership of all securities other than those reported herein, and this report shall not be deemed an admission that such a group exists or that the reporting persons are the beneficial owner of the securities of such group for purposes of Section 16 or any other purpose. Each of the StepStone Funds disclaims beneficial ownership of any Common Shares held by any other person. Each of StepStone Group LLC and StepStone Co-Investment disclaim beneficial ownership of any Common Shares held by the StepStone Funds except to the extent of their pecuniary interest in the StepStone Funds, if any.

	/s/ Jose Fernandez, Jose Fernandez, as attorney-in-fact for each of StepStone Group LLC, StepStone Co-Investment Funds GP, LLC and the StepStone Funds	10/04/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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