-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ADsJ0QMh3tXWLO6M0HrBxzW8LmPPUjKp2JkUZQVLhqD/VGr6ZHM/r5o+kxGexGUL 4MA9XTkoNnAAUF5f0RMDeA== 0001017918-99-000056.txt : 19991115 0001017918-99-000056.hdr.sgml : 19991115 ACCESSION NUMBER: 0001017918-99-000056 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19991112 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EDUCATION MANAGEMENT CORPORATION CENTRAL INDEX KEY: 0000880059 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 251119571 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-48543 FILM NUMBER: 99747018 BUSINESS ADDRESS: STREET 1: 300 SIXTH AVENUE CITY: PITTSBURGH STATE: PA ZIP: 15222 BUSINESS PHONE: 4125620900 MAIL ADDRESS: STREET 1: 300 SIXTH AVE CITY: PITTSBURGH STATE: PA ZIP: 15222 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BAMCO INC /NY/ CENTRAL INDEX KEY: 0001017918 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133390015 STATE OF INCORPORATION: NY FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 767 PARK AVE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2125832000 MAIL ADDRESS: STREET 1: 767 PARK AVE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 SC 13D 1 SCHEDULE 13D Page 1 of 11 Pages UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. )* EDUCATION MANAGEMENT CORPORATION ----------------------------------------------------- (Name of Issuer) COMMON ----------------------------------------------------- (Title of Class of Securities) 28139T101 ----------------------------------------------------- (CUSIP Number) Linda S. Martinson, Esq. (212) 583-2000 767 Fifth Avenue, 24th Floor, New York, NY 10153 ----------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ----------------------------------------------------- (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. Check the following box if a fee is being paid with this statement [ ]. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) *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). SEC 1746 (12-91) Schedule 13D (continued) CUSIP No. 28139T101 Page 2 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Group, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 525,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 5,397,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 525,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,397,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,922,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. 28139T101 Page 3 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BAMCO, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 3,940,000 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,940,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,940,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. 28139T101 Page 4 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Management, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 525,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,457,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 525,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,457,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,982,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. 28139T101 Page 5 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Asset Fund - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,900,000 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,900,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,900,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IV, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. 28139T101 Page 6 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Ronald Baron - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 525,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 5,397,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 525,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,397,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,922,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 7 of 11 Pages Item 1. Security and Issuer (a) Name of Issuer: EDUCATION MANAGEMENT CORPORATION (b) Address of Issuer's Principal Executive Offices: 300 Sixth Avenue Pittsburgh, PA 15222 (c) Title and Class of Securities: Common Item 2. Identity and Background (a) Name: Baron Capital Group, Inc. ('BCG') BAMCO, Inc. ('BAMCO') Baron Capital Management, Inc. ('BCM') Baron Asset Fund ('BAF') Ronald Baron (b) Business Address: 767 Fifth Avenue New York, NY 10153 (c) Present Principal Employment: BCG: Holding company BAMCO: Investment adviser BCM: Investment adviser BAF: Registered investment company Ronald Baron: Chairman and CEO: BCG, BAMCO, BCM and BAF 767 Fifth Avenue New York, NY 10153 (d) Record of Convictions: During the last five years, Filing Persons were not convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors.) (e) Record of Civil Proceedings: During the last five years, Filing Persons were not a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating such activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Citizenship: BCG, BAMCO and BCM are New York corporations. BAF is a Massachusetts business trust. Ronald Baron is a citizen of the United States. Item 3. Source and Amount of Funds or Other Consideration Ronald Baron owns no shares of the Issuer directly. BAMCO directed the purchase of 3,940,000 shares of the Issuer for its investment advisory clients for aggregate purchase price of $48,202,765. Of those shares, 2,900,000 were purchased for the account of BAF for a total purchase price of $34,536,887. BCM directed the purchase of 1,457,600 shares of the Issuer for its investment advisory clients for an aggregate purchase price of $18,853,340 and 525,000 shares of the Issuer for two investment partnerships for an aggregate purchase price of $4,897,120. All of the shares were paid for by cash assets in the respective clients' accounts and/or by margin borrowings pursuant to standard margin agreements. Page 8 of 11 Pages Item 4. Purpose of Transaction The securities referred to herein were acquired in the ordinary course of business for investment purposes only and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities. Item 5. Interest in Securities of the Issuer (a) Amount and percentage beneficially owned: BCG: 5,922,600 20.2% BAMCO: 3,940,000 13.4% BCM: 1,982,600 6.8% BAF: 2,900,000 9.9% Ronald Baron: 5,922,600 20.2% (b) Number of shares as to which such person has: (i) sole power to vote or direct the vote: BCG: 525,000 BAMCO: 0 BCM: 525,000 BAF: 0 Ronald Baron: 525,000 (ii) shared power to vote or direct the vote: BCG: 5,397,600 BAMCO: 3,940,000 BCM: 1,457,600 BAF: 2,900,000 Ronald Baron: 5,397,600 (iii) sole power to dispose or to direct the disposition: BCG: 525,000 BAMCO: 0 BCM: 525,000 BAF: 0 Ronald Baron: 525,000 (iv) shared power to dispose or direct the disposition: BCG: 5,397,600 BAMCO: 3,940,000 BCM: 1,457,600 BAF: 2,900,000 Ronald Baron: 5,397,600 *Reporting Persons may be deemed to share power to vote and dispose of shares referred to herein as a result of control relationships (BCG and Ronald Baron with respect to all of the shares; BAMCO with respect to the BAF shares) and pursuant to investment advisory relationships with advisory clients. Reporting Persons disclaim beneficial ownership of the shares for which they share power. (c) A schedule of transactions effected in the last sixty days is attached hereto. Page 9 of 11 Pages (d) Ownership of More than Five Percent on Behalf of Another Person: The investment advisory clients have the right to receive the dividends from, or the proceeds from the sale of the securities in their respective accounts. To the best of Reporting Person's knowledge, other than the shares reported herein, no person has such interest relating to more than 5% of the outstanding class of securities. (e) Ownership of Less than Five Percent: Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer By virtue of their investment advisory agreements with their clients, BCM and BAMCO have been given the discretion to dispose or direct the disposition of the securities in the advisory accounts. All such agreements are, however, revocable. The advisory agreements for the Baron Funds have been approved by their Board of Trustees. The agreements of the Baron Funds are filed as exhibit 99 to Form N1-A for Baron Asset Fund and are incorporated by reference herein. All the advisory agreements are pursuant to a standard form. BCM, BAMCO, BCG and Ronald Baron have agreed not to acquire, on behalf of their advisory clients, any additional securities of the Issuer if the acquisition would cause them to become an Acquiring Person pursuant to the Issuer's Rights Agreement. Item 7. Material to be Filed as Exhibits Exhibit 99 - 60 days of trading. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: November 10, 1999 Baron Capital Group, Inc., BAMCO, Inc., Baron Capital Management, Inc. and Baron Asset Fund By: /s/ Ronald Baron _______________________________________ Ronald Baron, Chairman and CEO Ronald Baron, Individually By: /s/ Ronald Baron _______________________________________ Ronald Baron EX-99 2 60-DAY TRANSACTION SCHEDULE Transaction Schedule From 09/02/99 To 10/31/99 Exec. Date Acct ID Trans Qty Price - -------- ------- ----- ------- ------- 09-02-99 bcm buy 12,500 13.0625 09-03-99 bamco buy 20,000 14.1719 09-08-99 bcm buy 12,000 13.5000 09-09-99 bcm buy 500 12.8125 09-09-99 bcm buy 6,900 13.0051 09-09-99 bcm buy 300 12.2500 09-09-99 bcm buy 2,800 12.5625 09-09-99 bamco buy 17,600 13.0051 09-09-99 bamco buy 1,600 12.8125 09-09-99 bamco buy 7,200 12.5625 09-09-99 bamco buy 800 12.2500 09-10-99 bamco buy 8,600 14.0932 09-10-99 bamco buy 46,900 14.0000 09-10-99 bcm buy 18,900 14.0932 09-10-99 bcm buy 103,100 14.0000 09-13-99 bamco buy 10,400 14.0000 09-13-99 bamco buy 66,900 14.0325 09-13-99 bcm buy 67,900 14.0325 09-13-99 bcm buy 4,600 14.0000 09-15-99 bcm buy 3,100 14.3750 09-15-99 bcm buy 3,600 14.5000 09-15-99 bamco buy 1,200 14.3750 09-15-99 bamco buy 1,400 14.5000 09-16-99 bamco buy 1,100 14.4375 09-16-99 bamco buy 12,500 14.7875 09-17-99 bcm buy 34,800 15.2125 09-17-99 bamco buy 15,200 15.2125 09-20-99 bamco buy 18,600 14.8750 09-20-99 bamco buy 10,000 14.6250 09-21-99 bcm buy 11,000 14.6250 09-21-99 bcm buy 6,600 14.3125 09-21-99 bamco buy 14,000 14.6250 09-21-99 bamco buy 8,400 14.3125 09-22-99 bcm buy 139,700 14.1250 09-22-99 bamco buy 82,600 14.1250 09-22-99 bamco buy 5,000 14.0625 09-23-99 bcm buy 178,400 13.7500 09-23-99 bcm buy 10,000 13.7413 09-23-99 bamco buy 30,000 13.7500 09-24-99 bcm buy 10,500 13.6250 09-24-99 bcm buy 3,900 13.4331 09-24-99 bamco buy 9,600 13.4331 09-28-99 bcm buy 36,000 12.8125 09-29-99 bcm buy 27,900 12.7500 09-30-99 bamco buy 10,400 13.0000 10-01-99 bcm buy 500 12.4375 10-05-99 bcm buy 25,000 10.8438 10-05-99 bcm buy 75,000 10.7521 10-05-99 bamco buy 20,000 10.7969 10-06-99 bcm buy 55,000 8.9375 10-06-99 bcm buy 320,000 8.9785 10-07-99 bamco buy 40,000 9.4844 10-08-99 bamco buy 80,000 10.2500 10-12-99 bcm buy 5,000 9.8125 10-19-99 bamco buy 15,400 8.7780 10-19-99 bamco buy 4,600 8.7500 10-20-99 bamco buy 20,000 9.1078 10-21-99 bamco buy 4,100 9.0313 10-21-99 bamco buy 5,900 9.0403 10-22-99 bcm buy 131,200 9.1250 10-22-99 bcm buy 70,000 9.1563 10-22-99 bcm buy 8,600 9.0363 10-25-99 bcm buy 3,800 9.1250 10-25-99 bcm buy 29,500 9.0000 10-26-99 bcm buy 25,000 9.1250 -----END PRIVACY-ENHANCED MESSAGE-----