<SEC-DOCUMENT>0001140361-21-010871.txt : 20210330
<SEC-HEADER>0001140361-21-010871.hdr.sgml : 20210330
<ACCEPTANCE-DATETIME>20210330172831
ACCESSION NUMBER:		0001140361-21-010871
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210326
FILED AS OF DATE:		20210330
DATE AS OF CHANGE:		20210330

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR PI-II GP LTD
		CENTRAL INDEX KEY:			0001406894
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		21788346

	BUSINESS ADDRESS:	
		STREET 1:		C/O KKR
		STREET 2:		9 WEST 57TH STREET SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		C/O KKR
		STREET 2:		9 WEST 57TH STREET SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR 2006 Fund (Overseas), Limited Partnership
		CENTRAL INDEX KEY:			0001406598
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		21788350

	BUSINESS ADDRESS:	
		STREET 1:		9 WEST 57TH STREET - SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		9 WEST 57TH STREET - SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR Partners II (International), LP
		CENTRAL INDEX KEY:			0001406996
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		21788347

	BUSINESS ADDRESS:	
		STREET 1:		9 WEST 57TH STREET - SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		9 WEST 57TH STREET - SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR 2006 LTD
		CENTRAL INDEX KEY:			0001406895
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		21788348

	BUSINESS ADDRESS:	
		STREET 1:		C/O KKR
		STREET 2:		9 WEST 57TH STREET SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		C/O KKR
		STREET 2:		9 WEST 57TH STREET SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR Associates 2006 (Overseas, Limited Partnership
		CENTRAL INDEX KEY:			0001406896
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		21788349

	BUSINESS ADDRESS:	
		STREET 1:		C/O KKR
		STREET 2:		9 WEST 57TH STREET SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		C/O KKR
		STREET 2:		9 WEST 57TH STREET SUITE 4200
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAUREATE EDUCATION, INC.
		CENTRAL INDEX KEY:			0000912766
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				521492296
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		650 S. EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
		BUSINESS PHONE:		4108436100

	MAIL ADDRESS:	
		STREET 1:		650 S. EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SYLVAN LEARNING SYSTEMS INC
		DATE OF NAME CHANGE:	19930929
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-03-26</periodOfReport>

    <issuer>
        <issuerCik>0000912766</issuerCik>
        <issuerName>LAUREATE EDUCATION, INC.</issuerName>
        <issuerTradingSymbol>LAUR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001406598</rptOwnerCik>
            <rptOwnerName>KKR 2006 Fund (Overseas), Limited Partnership</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KOHLBERG KRAVIS ROBERTS &amp; CO. L.P.,</rptOwnerStreet1>
            <rptOwnerStreet2>30 HUDSON YARDS</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001406896</rptOwnerCik>
            <rptOwnerName>KKR Associates 2006 (Overseas, Limited Partnership</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KOHLBERG KRAVIS ROBERTS &amp; CO. L.P.,</rptOwnerStreet1>
            <rptOwnerStreet2>30 HUDSON YARDS</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001406895</rptOwnerCik>
            <rptOwnerName>KKR 2006 LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KOHLBERG KRAVIS ROBERTS &amp; CO. L.P.,</rptOwnerStreet1>
            <rptOwnerStreet2>30 HUDSON YARDS</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001406996</rptOwnerCik>
            <rptOwnerName>KKR Partners II (International), LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KOHLBERG KRAVIS ROBERTS &amp; CO. L.P.,</rptOwnerStreet1>
            <rptOwnerStreet2>30 HUDSON YARDS</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001406894</rptOwnerCik>
            <rptOwnerName>KKR PI-II GP LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KOHLBERG KRAVIS ROBERTS &amp; CO. L.P.,</rptOwnerStreet1>
            <rptOwnerStreet2>30 HUDSON YARDS</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4577995</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13480107</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>190525</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>288021</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F5"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-03-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4577995</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4577995</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>18311957</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-03-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>190525</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>190525</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>762098</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Upon distribution of shares of Class B common stock (&quot;Class B Common Stock&quot;) of Laureate Education, Inc. (the &quot;Issuer&quot;) by Wengen Alberta, Limited Partnership (&quot;Wengen&quot;) to its investors pro rata based on their respective ownership interest in Wengen, such shares of Class B Common Stock automatically converted into shares of Class A common stock of the Issuer (&quot;Class A Common Stock&quot;) on a one-for-one basis.</footnote>
        <footnote id="F2">Each share of Class B Common Stock is convertible into one share of Class A Common Stock  upon the election of the holder or upon transfer, subject to the terms of the Issuer's Amended and Restated Certificate of Incorporation.</footnote>
        <footnote id="F3">Shares of Class B Common Stock are held directly by Wengen. Wengen Investments Limited (&quot;Wengen GP&quot;) is the general partner of Wengen. Certain investors, including, but not limited to, certain investment funds and other persons affiliated with or managed by Kohlberg Kravis Roberts &amp; Co. L.P. and certain other investors (collectively, the &quot;Wengen Investors&quot;) have interests in the Issuer through Wengen. The Reporting Persons and certain of the other Wengen Investors have designated representatives who serve as the members of the board of directors of Wengen GP.</footnote>
        <footnote id="F4">KKR 2006 Fund (Overseas), Limited Partnership directly holds shares of Class A Common Stock of the Issuer and indirectly beneficially owns shares of Class B Common Stock by virtue of the limited partnership interests it holds in Wengen.  KKR Associates 2006 (Overseas), Limited Partnership is the general partner of KKR 2006 Fund (Overseas), Limited Partnership. KKR 2006 Limited is the general partner of KKR Associates 2006 (Overseas), Limited Partnership. KKR Group Partnership L.P. is the sole shareholder of KKR 2006 Limited. KKR Group Holdings Corp. is the general partner of KKR Group Partnership L.P. KKR &amp; Co. Inc. is the sole shareholder of KKR Group Holdings Corp. KKR Management LLP is the Series I preferred stockholder of KKR &amp; Co. Inc. Messrs. Henry R. Kravis and George R. Roberts are the founding partners of KKR Management LLP.</footnote>
        <footnote id="F5">KKR Partners II (International), L.P. directly holds shares of Class A Common Stock of the Issuer and indirectly beneficially owns shares of Class B Common Stock by virtue of the limited partnership interests it holds in Wengen.  KKR PI-II GP Limited is the general partner of KKR Partners II (International), L.P.</footnote>
        <footnote id="F6">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 the Reporting Persons are subject to Section 16 of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;) and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of any securities reported herein for purposes of Section 16 of the Exchange Act otherwise.</footnote>
    </footnotes>

    <remarks>Because no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the Reporting Persons have filed a separate Form 4.  Exhibit Index: Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>KKR 2006 Fund (Overseas), Limited Partnership By: KKR Associates 2006 (Overseas), Limited Partnership, its GP By: KKR 2006 Limited, its GP By: /s/ Terence P. Gallagher Name: Terence P. Gallagher Title: Attorney-in-fact for Robert H. Lewin, Director</signatureName>
        <signatureDate>2021-03-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR Associates 2006 (Overseas), Limited Partnership By: KKR 2006 Limited, its General Partner By: /s/ Terence P. Gallagher Name: Terence P. Gallagher Title: Attorney-in-fact for Robert H. Lewin, Director</signatureName>
        <signatureDate>2021-03-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR 2006 Limited By: /s/ Terence P. Gallagher Name: Terence P. Gallagher Title: Attorney-in-fact for Robert H. Lewin, Director</signatureName>
        <signatureDate>2021-03-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR Partners II (International), L.P. By: KKR PI-II GP Limited, its General Partner By: /s/ Terence P. Gallagher Name: Terence P. Gallagher Title: Attorney-in-fact for Robert H. Lewin, Director</signatureName>
        <signatureDate>2021-03-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR PI-II GP Limited By: /s/ Terence P. Gallagher Name: Terence P. Gallagher Title: Attorney-in-fact for Robert H. Lewin, Director</signatureName>
        <signatureDate>2021-03-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>brhc10022514_ex-24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
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        <div style="text-align: right; color: #000000; font-weight: bold;">EXHIBIT 24</div>
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        <div style="text-align: center; color: #000000; font-weight: bold;">POWER OF ATTORNEY</div>
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      <div>
        <div style="color: #000000;">Know all men by these presents that Robert H. Lewin does hereby make, constitute and appoint David J. Sorkin, Terence P. Gallagher, and Christopher Lee,
          or any one of them, as a true and lawful attorney-in-fact of the undersigned with full powers of substitution and revocation, for and in the name, place and stead of the undersigned (both in the undersigned&#8217;s individual capacity and as a manager
          or member of any limited liability company, as a partner of any partnership, as an officer of any corporate or other entity, or in the undersigned&#8217;s capacity in a position similar to the foregoing at any entity, in each case, for which the
          undersigned is otherwise authorized to sign), to execute and deliver such forms, schedules, statements and other documents as may be required to be filed from time to time with the Securities and Exchange Commission with respect to: (i) Sections
          13(d), 13(g), 13(f), 13(h) and 16(a) of the Securities Exchange Act of 1934, as amended, including without limitation, Schedule 13D, Schedule 13G, Form 13F, Form 13H, Form 3, Form 4 and Form 5 and (ii) in connection with any applications for
          EDGAR access codes, including without limitation the Form ID.</div>
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              <div style="color: #000000;">&#160;</div>
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              <div style="color: #000000;">/s/ Robert H. Lewin</div>
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              <div style="color: #000000;">&#160;</div>
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              <div style="color: #000000;">Name: Robert H. Lewin</div>
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        <div style="color: #000000;">Date: January 14, 2020</div>
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