SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(AMENDMENT NO. 11)
STRAYER EDUCATION, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
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(Title of Class of Securities)
863236105
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(CUSIP Number)
Steven B. Klinsky
New Mountain Partners, L.P.
712 Fifth Avenue, 23rd Floor
New York, New York 10019
Telephone: (212) 720-0300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
J. Michael Schell
Sean C. Doyle
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10036-6522
Telephone: (212) 735-3000
December 9, 2004
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(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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
(Continued on the following pages)
Page 1 of 8 Pages
CUSIP No. 863236105 13D
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1. NAME OF REPORTING PERSONS:
New Mountain Partners, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
13-4099832
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ X ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS:
See Items 3 and 4 AF, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
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7. SOLE VOTING POWER:
NUMBER OF 1,192,120
SHARES --------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER:
OWNED BY None
EACH --------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER:
PERSON 1,192,120
WITH --------------------------------------
10. SHARED DISPOSITIVE POWER:
None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
1,192,120
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
Approximately 8.13%
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14. TYPE OF REPORTING PERSON:
PN
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Page 2 of 8
CUSIP No. 863236105 13D
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1. NAME OF REPORTING PERSONS:
New Mountain Investments, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
13-4099829
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ X ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS:
AF, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
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7. SOLE VOTING POWER:
NUMBER OF 1,192,120
SHARES --------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER:
OWNED BY None
EACH --------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER:
PERSON 1,192,120
WITH --------------------------------------
10. SHARED DISPOSITIVE POWER:
None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
1,192,120
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
Approximately 8.13%
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14. TYPE OF REPORTING PERSON:
PN
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Page 3 of 8
CUSIP No. 863236105 13D
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1. NAME OF REPORTING PERSONS:
New Mountain GP, LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
13-4099827
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ X ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS:
AF, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
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7. SOLE VOTING POWER:
NUMBER OF 1,192,120
SHARES --------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER:
OWNED BY None
EACH --------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER:
PERSON 1,192,120
WITH --------------------------------------
10. SHARED DISPOSITIVE POWER:
None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
1,192,120
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
Approximately 8.12%
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14. TYPE OF REPORTING PERSON:
OO
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Page 4 of 8
CUSIP No. 863236105 13D
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1. NAME OF REPORTING PERSONS:
Steven B. Klinsky
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
N/A
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ X ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS:
OO, PF
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION:
United States of America
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7. SOLE VOTING POWER:
NUMBER OF 1,192,120
SHARES --------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER:
OWNED BY None
EACH --------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER:
PERSON 1,192,120
WITH --------------------------------------
10. SHARED DISPOSITIVE POWER:
None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
1,192,120
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
--------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
Approximately 8.13%
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14. TYPE OF REPORTING PERSON:
IN
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Page 5 of 8
AMENDMENT NO. 11 TO SCHEDULE 13D
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The statement on Schedule 13D (the "Schedule 13D"), as amended by
Amendment No. 1 ("Amendment No. 1"), Amendment No. 2 ("Amendment No. 2"),
Amendment No. 3 ("Amendment No. 3"), Amendment No. 4 ("Amendment No. 4"),
Amendment No. 5 ("Amendment No. 5"), Amendment No. 6 ("Amendment No. 6"),
Amendment No. 7 ("Amendment No. 7"), Amendment No. 8 ("Amendment No. 8"),
Amendment No. 9 ("Amendment No. 9") and Amendment No. 10 ("Amendment No. 10")
thereto, filed jointly on March 26, 2001, May 15, 2001, October 8, 2002,
November 18, 2002, November 22, 2002, January 14, 2004, February 4, 2004,
March 11, 2004, March 15, 2004, May 6, 2004 and June 30, 2004, respectively,
by the persons listed on the signature pages thereto relating to the
beneficial ownership of the common stock, par value $.01 per share ("Common
Stock"), of Strayer Education, Inc., a Maryland corporation (the "Issuer"),
and the beneficial ownership of the Series A Preferred Stock, par value $.01
per share ("Series A Preferred Stock"), of the Issuer, which is convertible
into Common Stock, is hereby amended and supplemented as set forth below in
this Amendment No. 11 to the Schedule 13D by the persons listed on the
signature page hereto (the "Reporting Persons"). Capitalized terms used below
and not otherwise defined herein shall have the meanings set forth in the
Schedule 13D, as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3,
Amendment No. 4, Amendment No. 5, Amendment No. 6, Amendment No. 7, Amendment
No. 8, Amendment No. 9 and Amendment No. 10.
ITEM 4. PURPOSE OF TRANSACTION.
The disclosure in Item 4(a) is hereby amended and supplemented as
follows:
"On December 9, 2004, New Mountain Partners, L.P. sold 450,000 shares
of Common Stock in a transaction with Credit Suisse First Boston LLC in
reliance on Rule 144 under the Securities Act of 1933, as amended, at a per
share price of $112.94."
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The disclosure in Item 5(a) is hereby amended and supplemented as
follows:
"As of the date of this Amendment No. 11, the Reporting Persons may
be deemed to beneficially own 1,192,120 shares of Common Stock.
Assuming the number of shares outstanding on October 22, 2004, the
Reporting Persons may be deemed to beneficially own approximately 8.13% of the
outstanding Common Stock of the Issuer."
The disclosure in Item 5(b) is hereby amended and supplemented as
follows:
"On December 9, 2004, New Mountain Partners, L.P. sold 450,000
shares of Common Stock in a transaction with Credit Suisse First Boston
LLC in reliance on Rule 144 under the Securities Act of 1933, as amended,
at a per share price of $112.94. This is the only transaction
Page 6 of 8
in the Common Stock that was effected by the Reporting Persons in the 60 days
preceding this amendment."
Page 7 of 8
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.
NEW MOUNTAIN PARTNERS, L.P.
By: New Mountain Investments, L.P., its
general partner
By: New Mountain GP, LLC, its
general partner
By: /s/ Steven B. Klinsky
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Name: Steven B. Klinsky
Title: Member
NEW MOUNTAIN INVESTMENTS, L.P.
By: New Mountain GP, LLC, its
general partner
By: /s/ Steven B. Klinsky
-------------------------------
Name: Steven B. Klinsky
Title: Member
NEW MOUNTAIN GP, LLC
By: /s/ Steven B. Klinsky
-------------------------------
Name: Steven B. Klinsky
Title: Member
/s/ Steven B. Klinsky
-------------------------------
Name: Steven B. Klinsky
Dated: December 13, 2004
Page 8 of 8