UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
CB RICHARD ELLIS GROUP, INC.
------------------------------------------
(Name of Issuer)
CLASS A COMMON STOCK, $0.01 par value
-------------------------------------
(Title of Class of Securities)
12497T101
---------
(CUSIP Number)
Gregory D. Hitchan
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)
November 12, 2008
-----------------
(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 [ ].
*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 16
CUSIP NO. 12497T101 SCHEDULE 13D Page 2 of 16
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
-----------------------------------------------------------------------------
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 California
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 3 of 16
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
-----------------------------------------------------------------------------
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 California
-----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 4 of 16
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3303831
-----------------------------------------------------------------------------
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 38,285,443**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 5 of 16
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP II, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3395150
-----------------------------------------------------------------------------
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 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5 below
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 6 of 16
-----------------------------------------------------------------------------
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 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 7 of 16
-----------------------------------------------------------------------------
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 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 8 of 16
-----------------------------------------------------------------------------
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 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 9 of 16
-----------------------------------------------------------------------------
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 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 10 of 16
-----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SADDLEPOINT PARTNERS GP, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 83-0424234
-----------------------------------------------------------------------------
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 38,285,443**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 38,285,443**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 38,285,443**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.6%**
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
-----------------------------------------------------------------------------
** See Item 5
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 11 of 16
Item 1. Security and Issuer
----------------------------
This Amendment No. 7 amends the Statement on Schedule 13D (the "Schedule
13D") filed with the Securities and Exchange Commission (the "Commission")
on August 6, 2008 by Blum Capital Partners, L.P., a California limited
partnership ("Blum LP"); and Richard C. Blum & Associates, Inc., a California
corporation ("RCBA Inc."); Blum Strategic GP, L.L.C., a Delaware limited
liability company ("Blum GP"); Blum Strategic GP II, L.L.C., a Delaware
limited liability company ("Blum GP II"); Blum Strategic Partners II, L.P., a
Delaware limited partnership ("Blum Strategic II"); 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"); Blum Strategic GP IV, L.P., a Delaware limited partnership
("Blum GP IV LP") and Saddlepoint Partners GP, L.L.C., a Delaware limited
liability company ("Saddlepoint GP") (collectively, the "Reporting Persons").
This amendment relates to shares of Class A Common Stock, $0.01 par
value per share (the "Common Stock") of CB Richard Ellis Group, Inc., a
Delaware corporation (the "Issuer"). The principal executive office and
mailing address of the Issuer is 11150 Santa Monica Boulevard, Suite 1600,
Los Angeles, California 90025.
The following amendments to the Schedule 13D are hereby made. Unless
otherwise defined herein, all capitalized terms shall have the meanings
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 August 6, 2008.
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 August 6, 2008.
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 12 of 16
Item 4. Purpose of Transaction
-------------------------------
Item 4 is hereby amended to add the following:
On November 18, 2008, the Issuer completed its sale (the "Public Offering")
of shares of Common Stock pursuant to a Registration Statement on Form S-3
filed with the Securities and Exchange Commission on November 10, 2008. The
Reporting Persons acquired 10,610,079 shares of Common Stock pursuant to the
Public Offering. In connection with the Public Offering, (i) Richard C. Blum
and Jane Jin Wen Su, who are both affiliates of the Reporting Persons and
directors of the Issuer, and certain of the Reporting Persons executed a
lockup agreement, the form of which is attached hereto as Exhibit B, and (ii)
certain of the Reporting Persons entered into a Waiver to Securityholders'
Agreement, dated as of November 5, 2008 (attached hereto as Exhibit C, the
"Waiver"), pursuant to which such Reporting Persons waived certain of their
registration rights in connection with the Public Offering.
The information set forth in this Item 4 is qualified in its entirety by
reference to the full text of the form of lockup agreement (Exhibit B hereto)
and the Waiver (Exhibit C hereto), each of which is incorporated by
reference herein in its entirety.
Item 5. Interest in Securities of the Issuer
---------------------------------------------
(a),(b) According to the Issuer's Form 10Q, filed with the Commission on
November 10, 2008, there were 204,920,926 shares of Common Stock issued and
outstanding as of October 31, 2008, and after taking into account the
company's Public Offering on November 18, 2008 of 57,500,000 shares, there
are approximately 262,420,926 shares of Common Stock issued and outstanding.
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) 1,538,877 shares of
Common Stock held by Blum LP and RCBA Inc. on behalf of the limited
partnerships for which Blum LP serves as the general partner, which
represents 0.6% of the outstanding shares of the Common Stock; (ii) 9,997,428
shares of Common Stock held by Blum GP on behalf of the limited partnership
for which it serves as the general partner, which represents 3.8% of the
outstanding shares of the Common Stock; and (iii) 11,852,759 shares of Common
Stock held by Blum GP II on behalf of the limited partnership for which it
serves as the general partner and on behalf of the limited partnership for
which it serves as the managing limited partner, which represents 4.5% of the
outstanding shares of the Common Stock; (iv) 6,282,700 shares of Common Stock
held by Blum GP III on behalf of the partnerships for which it serves as the
general partner, which represents 2.4% of the outstanding shares of Common
Stock; (v) 8,212,979 shares of Common Stock held by Blum GP IV on behalf of
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 13 of 16
the partnerships for which it serves as the general partner, which represents
3.1% of the outstanding shares of CommonStock; (vi) 90,900 shares of Common
Stock held by Saddlepoint GP on behalf of a partnership for which it serves
as the general partner, which represents less than 0.1% of the outstanding
shares of the Common Stock; (vii) 132,400 shares of Common Stock that are
legally owned by The Nuclear Decommissioning Trust of Dominion Nuclear
Connecticut, Inc. ("Dominion Connecticut"), which represents 0.1% of the
outstanding shares of the Common Stock and 132,400 shares of the Common Stock
that are legally owned by Virginia Electric and Power Company Qualified
Nuclear Decommissioning Trust ("Virginia Electric"), which represents 0.1% of
the outstanding shares of the Common Stock (collectively, the "Investment
Advisory Clients"), with respect to which Blum LP has voting and investment
power.
Each Investment Advisory Client has entered into an investment management
agreement with Blum LP, but neither Investment Advisory Client has any
contract, arrangement or understanding with the other Investment Advisory
Client, or any other Reporting Person, with respect to the acquisition,
ownership, disposition or voting of any shares of the Common Stock. Each
Investment Advisory Client disclaims membership in a group with any Reporting
Person or with the other Investment Advisory Client, and each disclaims
beneficial ownership of any shares beneficially owned by the Reporting
Persons other than for their own account.
Voting and investment power concerning the above shares are held solely by
Blum LP, Blum GP and Blum GP II, Blum GP III, Blum GP IV and Saddlepoint GP.
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 38,285,443 shares of the Common Stock, which is 14.6% 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, Blum GP II, Blum GP III, Blum GP III LP, Blum GP IV, Blum GP IV LP, or
Saddlepoint GP, is, for any purpose, the beneficial owner of any of the
securities that are beneficially owned by RCBA Inc., Blum GP, Blum GP II,
Blum GP III, Blum GP III LP, Blum GP IV, Blum GP IV LP or Saddlepoint GP.
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 14 of 16
c) During the last 60 days, the Reporting Persons have purchased the
following shares of Common Stock in the open market:
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
Investment partnerships for 11-12-2008 857,964 3.7700
which Blum LP serves as the
general partner.
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
For Blum Strategic III for 11-12-2008 4,624,900 3.7700
which Blum GP III LP serves
as the general partner and
for Blum GP III which serves
as the general partner for
Blum GP III LP.
Entity Trade Date Shares Price/Share
------- ---------- -------- -----------
For Blum Strategic IV for 11-12-2008 4,961,615 3.7700
which Blum GP IV LP serves
as the general partner and
for Blum GP IV which serves
as the general partner for
Blum GP IV LP.
Entity Trade Date Shares Price/Share
------ ---------- -------- ------------
The Investment Advisory 11-12-2008 165,600 3.7700
Clients for which Blum LP
serves as investment advisor.
In addition, on November 18, 2008, the Reporting Persons distributed
78,881 shares of Common Stock to a limited partner in one of the limited
partnerships for which Blum LP serves as the general partner and transferred
219 shares of Common Stock to Blum LP.
(d) and (e) Not applicable.
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 15 of 16
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
----------------------------------------------------------------------
Item 6 is hereby amended to add the following:
The disclosure set forth above in Item 4 is hereby incorporated by reference
in its entirety.
Item 7. Material to be Filed as Exhibits
-----------------------------------------
Exhibit A - Joint Filing Undertaking
Exhibit B - Form of Lock-up Agreement
Exhibit C - Waiver to Securityholders' Agreement
* * * * * *
CUSIP NO. 12497T101 SCHEDULE 13D Page 16 of 16
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: November 18, 2008
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its general partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -----------------------------------
Gregory D. Hitchan, Gregory D. Hitchan,
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP, L.L.C. BLUM STRATEGIC GP II, L.L.C.
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Managing Member and General Counsel
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/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Managing Member and General Counsel
BLUM STRATEGIC GP IV, L.L.C. BLUM STRATEGIC GP IV, L.P.
By: Blum Strategic GP IV, L.L.C.
its general partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Managing Member and General Counsel
SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Capital Partners, L.P.
its Managing Member
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan
-------------------------------
Gregory D. Hitchan
Partner, Chief Operating Officer,
General Counsel and Secretary
* * * * * *
CUSIP NO. 12497T101 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: November 18, 2008
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its general partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -----------------------------------
Gregory D. Hitchan, Gregory D. Hitchan,
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP, L.L.C. BLUM STRATEGIC GP II, L.L.C.
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Managing Member and General Counsel
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/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Managing Member and General Counsel
BLUM STRATEGIC GP IV, L.L.C. BLUM STRATEGIC GP IV, L.P.
By: Blum Strategic GP IV, L.L.C.
its general partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- -------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Member and General Counsel Managing Member and General Counsel
SADDLEPOINT PARTNERS GP, L.L.C.
By: Blum Capital Partners, L.P.
its Managing Member
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan
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Gregory D. Hitchan
Partner, Chief Operating Officer,
General Counsel and Secretary
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EXHIBIT B
FORM OF LOCK-UP AGREEMENT
[NAME]
[ADDRESS]
[ADDRESS]
Dear Sirs:
As an inducement to the Underwriters to execute the Underwriting Agreement
(the "Underwriting Agreement"), pursuant to which an offering will be made
that is intended to result in an orderly market for the Class A Common Stock
(the "Securities") of CB Richard Ellis Group, Inc., and any successor (by
merger or otherwise) thereto (the "Company"), each of the undersigned hereby
agrees that during the period specified in the following paragraph (the
"Lock-Up Period"), each of the undersigned will not offer, sell, contract to
sell, pledge or otherwise dispose of, directly or indirectly, any Securities
or securities convertible into or exchangeable or exercisable for any
Securities, enter into a transaction which would have the same effect, or
enter into any swap, hedge or other arrangement that transfers, in whole or
in part, any of the economic consequences of ownership of the Securities,
whether any such aforementioned transaction is to be settled by delivery of
the Securities or such other securities, in cash or otherwise, or publicly
disclose the intention to make any such offer, sale, pledge or disposition,
or to enter into any such transaction, swap, hedge or other arrangement,
without, in each case, the prior written consent of Credit Suisse Securities
(USA) LLC ("Credit Suisse"); provided, however, that the foregoing
restriction shall not limit any of the undersigned from (i) selling,
disposing, distributing or transferring Securities in connection with meeting
withdrawal requests of its investors or in connection with a liquidation of
any of the undersigned or (ii) reporting a reduction in beneficial ownership
of Securities in connection with any transactions referenced in the
immediately preceding clause (i) with the Securities and Exchange Commission
as required by law. In addition, each of the undersigned agrees that,
without the prior written consent of Credit Suisse, it will not, during the
Lock-Up Period, make any demand for or exercise any right with respect to,
the registration of any Securities or any security convertible into or
exercisable or exchangeable for the Securities.
The initial Lock-Up Period will commence on the date of this Agreement and
continue and include the date 90 days after the public offering date set
forth on the final prospectus used to sell the Securities (the "Public
Offering Date") pursuant to the Underwriting Agreement.
Any Securities received upon exercise of options granted to any of the
undersigned will also be subject to this Agreement. The restrictions
contained in this Agreement will not apply to (i) any Common Stock or any
security convertible into or exercisable or exchangeable for Securities
acquired by the undersigned in the open market after the date hereof;
(ii) transfers of Securities or any security convertible into or exercisable
or exchangeable for Securities as a bona fide gift or gifts; (iii) transfers
or distributions of Securities or any security convertible into or
exercisable or exchange for Securities to affiliates (as defined in Rule 405
under the Securities Act of 1933, as amended) of the undersigned;
(iv) transfers or dispositions by will or under the laws of descent;
(v) transfers or dispositions of Securities to a spouse, former spouse, child
or other dependent pursuant to a domestic relations order or settlement
agreement; or (vi) transfers by the undersigned or his/her distributee or
transferee of Securities or securities convertible into or exercisable or
exchangeable for Securities to a family member of the undersigned or his/her
distributee or transferee or trust created for the benefit of the undersigned
or his/her distributee or transferee or family member of the undersigned or
his/her distributee or transferee; provided that in the case of any transfer,
distribution or resale pursuant to clauses (ii), (iii) or (vi), (a) such
transferee, distributee or purchaser agrees to be bound in writing by the
terms of this Agreement prior to such transfer, distribution or resale and
(b) the undersigned notifies Credit Suisse at least three business days prior
to the proposed transfer or disposition.
In furtherance of the foregoing, the Company and its transfer agent and
registrar are hereby authorized to decline to make any transfer of shares of
Securities if such transfer would constitute a violation or breach of this
Agreement.
This Agreement shall be binding on the undersigned and the successors, heirs,
personal representatives and assigns of the undersigned. This Agreement
shall lapse and become null and void if the Public Offering Date shall not
have occurred on or before November 30, 2008. This agreement shall be
governed by, and construed in accordance with, the laws of the State of New
York.
Very truly yours,
By:
__________________________
By:
Title:
* * * * * *
EXHIBIT C
WAIVER TO SECURITYHOLDERS' AGREEMENT
The parties identified on the signature page hereto have executed this
waiver, dated as of November 6, 2008 (this "Waiver"), to that certain
Securityholders' Agreement, by and among (i) CB Richard Ellis Services, Inc.,
a Delaware corporation ("CBRE"), and CB Richard Ellis Group, Inc., a Delaware
corporation formerly known as CBRE Holding, Inc. (the "Company"), (ii) Blum
Strategic Partners, L.P., a Delaware limited partnership formerly known as
RCBA Strategic Partners, L.P., Blum Strategic Partners II, L.P., a Delaware
limited partnership, and Blum Strategic Partners II GmbH & Co. KG, a German
limited partnership, (iii) Frederic V. Malek, (iv) Raymond E. Wirta and (v)
W. Brett White, dated as of July 20, 2001, as amended by that Amendment and
Waiver dated as of April 14, 2004, the Second Amendment and Waiver dated as
of November 24, 2004 and that certain Third Amendment and Waiver dated as of
August 1, 2005 (together, the "Securityholders' Agreement"). Capitalized
terms used herein and not otherwise defined have the meanings ascribed
thereto in the Securityholders' Agreement.
RECITALS:
A. The Securityholders' Agreement provides for, among other things,
the registration of shares of Common Stock held by the undersigned, upon the
terms and subject to the conditions set forth therein;
B. The Company intends to offer shares of its Class A common stock,
par value $0.01 per share (the "Common Stock"), pursuant to registered public
offering (the "Offering");
C. The Company intends to file a Registration Statement on Form S-3
(the "Shelf Registration Statement") with the Securities and Exchange
Commission pursuant to the Securities Act of 1933, as amended, in connection
with the Offering; and
D. Each of the undersigned agrees to waive certain provisions in the
Securityholders' Agreement in connection with the Shelf Registration
Statement as set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained, the parties hereto agree as follows:
Section 1. Waiver. Each of the undersigned hereby acknowledges and
agrees that it irrevocably and unconditionally waives any and all rights to
notification pursuant to Section 3.2 under the Securityholders' Agreement in
connection with the filing of the Shelf Registration Statement and, subject
to the Offering being completed no later than November 30, 2008, irrevocably
and unconditionally waives any and all rights to include the undersigned's
Registrable Securities in any such Shelf Registration Statement for a period
commencing on the date hereof and ending on the date that the Company files
its annual report on Form 10-K for its fiscal year ending December 31, 2008
with the Securities and Exchange Commission.
Section 2. Miscellaneous Provisions.
(a) The parties hereto will sign such further documents, cause such
meetings to be held, resolutions passed, exercise their votes and do and
perform and cause to be done such further acts and things as may be
reasonably necessary in order to give full effect to this Waiver.
(b) Notwithstanding anything in this Waiver to the contrary, except
as expressly set forth herein, the Securityholders' Agreement shall remain in
full force and effect without amendment or modification thereof.
(c) This Waiver does not create any rights, claims or benefits
inuring to any Person that is not a party hereto nor create or establish any
third party beneficiary hereto.
(d) This Waiver will be governed by, and construed in accordance
with, the laws of the State of Delaware, applicable to contracts executed and
to be performed entirely within that state.
(e) This Waiver, together with the Securityholders' Agreement, sets
forth the entire understanding of the parties hereto with respect to the
subject matter hereof.
(f) The section headings contained in this Waiver are for reference
purposes only and will not affect the meaning or interpretation of this
Waiver.
(g) If any provision of this Waiver is declared by any court of
competent jurisdiction to be illegal, void or unenforceable, all other
provisions of this Waiver will not be affected and will remain in full force
and effect.
(h) This Waiver may be executed in any number of counterparts, each
of which will be deemed to be an original and all of which together will be
deemed to be one and the same instrument. This Waiver shall become effective
as of the date set forth above on the date on which the Company has received
counterparts of this Waiver from each of the undersigned.
* * * * * *
IN WITNESS WHEREOF, each of the undersigned has executed this Waiver or
caused this Waiver to be executed on its behalf as of the date first written
above.
BLUM STRATEGIC PARTNERS, L.P.
By: Blum Strategic GP, L.L.C., its general
Partner
By: /s/ Gregory D. Hitchan
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Name: Gregory D. Hitchan
Title: Managing Member
BLUM STRATEGIC PARTNERS II, L.P.
By: Blum Strategic GP II, L.L.C., its general
partner
By: /s/ Gregory D. Hitchan
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Name: Gregory D. Hitchan
Title: Managing Member
BLUM STRATEGIC PARTNERS II GMBH
& CO. KG
By: Blum Strategic GP II, L.L.C., its
managing limited partner
By: /s/ Gregory D. Hitchan
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Name: Gregory D. Hitchan
Title: Managing Member
* * * * * *
By: /s/ Raymond E. Wirta
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Raymond E. Wirta
By: /s/ w. Brett White
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W. Brett White
* * * * * *
ACKNOWLEDGED AND AGREED as of the date first written above:
CB RICHARD ELLIS GROUP, INC.
By: /s/ Lawrence H. Midler
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Name: Lawrence H. Midler
Title: Executive Vice President,
General Counsel & Secretary
CB RICHARD ELLIS SERVICES, INC.
By: /s/ Lawrence H. Midler
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Name: Lawrence H. Midler
Title: Executive Vice President,
General Counsel & Secretary
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