<SEC-DOCUMENT>0001140361-22-042786.txt : 20221122
<SEC-HEADER>0001140361-22-042786.hdr.sgml : 20221122
<ACCEPTANCE-DATETIME>20221122163613
ACCESSION NUMBER:		0001140361-22-042786
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221122
FILED AS OF DATE:		20221122
DATE AS OF CHANGE:		20221122

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR & Co. Inc.
		CENTRAL INDEX KEY:			0001404912
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		221410945

	BUSINESS ADDRESS:	
		STREET 1:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		212-750-8300

	MAIL ADDRESS:	
		STREET 1:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

	FORMER NAME:	
		FORMER CONFORMED NAME:	KKR & Co. L.P.
		DATE OF NAME CHANGE:	20070627

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KRAVIS HENRY R
		CENTRAL INDEX KEY:			0001081714

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		221410943

	MAIL ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROBERTS GEORGE R
		CENTRAL INDEX KEY:			0001081715

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		221410942

	MAIL ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		2800 SAND HILL ROAD
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR Group Co. Inc.
		CENTRAL INDEX KEY:			0001932162
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		221410946

	BUSINESS ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		212-750-8300

	MAIL ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR Management LLP
		CENTRAL INDEX KEY:			0001472694
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		221410944

	BUSINESS ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

	FORMER NAME:	
		FORMER CONFORMED NAME:	KKR Management LLC
		DATE OF NAME CHANGE:	20090921

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR Group Partnership L.P.
		CENTRAL INDEX KEY:			0001472698
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		221410948

	BUSINESS ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

	FORMER NAME:	
		FORMER CONFORMED NAME:	KKR Fund Holdings L.P.
		DATE OF NAME CHANGE:	20090921

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KKR Group Holdings Corp.
		CENTRAL INDEX KEY:			0001743754
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		221410947

	BUSINESS ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		212-230-9742

	MAIL ADDRESS:	
		STREET 1:		C/O KOHLBERG KRAVIS ROBERTS & CO. L.P.
		STREET 2:		30 HUDSON YARDS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

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>
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    <periodOfReport>2022-11-22</periodOfReport>

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    <issuer>
        <issuerCik>0000912766</issuerCik>
        <issuerName>LAUREATE EDUCATION, INC.</issuerName>
        <issuerTradingSymbol>LAUR</issuerTradingSymbol>
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            <rptOwnerCik>0001472698</rptOwnerCik>
            <rptOwnerName>KKR Group Partnership L.P.</rptOwnerName>
        </reportingOwnerId>
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            <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>
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            <rptOwnerName>KKR Group Holdings Corp.</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>
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    <reportingOwner>
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            <rptOwnerCik>0001932162</rptOwnerCik>
            <rptOwnerName>KKR Group Co. Inc.</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>
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        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001404912</rptOwnerCik>
            <rptOwnerName>KKR &amp; Co. Inc.</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>0001472694</rptOwnerCik>
            <rptOwnerName>KKR Management LLP</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>
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        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001081714</rptOwnerCik>
            <rptOwnerName>KRAVIS HENRY R</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>0001081715</rptOwnerCik>
            <rptOwnerName>ROBERTS GEORGE R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KOHLBERG KRAVIS ROBERTS &amp; CO. L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>2800 SAND HILL ROAD, SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-11-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>31792064</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.409</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-11-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1050119</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.409</value>
                    <footnoteId id="F1"/>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The price of $9.40875 represents the $9.75 secondary public offering price per share of Common Stock, less the underwriting discount of $0.34125 per share for shares sold pursuant to an underwritten public offering.</footnote>
        <footnote id="F2">Represents securities held by KKR 2006 Fund (Overseas), Limited Partnership. 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 Group Co. Inc. is the sole shareholder of KKR Group Holdings Corp.  KKR &amp; Co. Inc. is the sole shareholder of KKR Group Co. Inc. 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="F3">Represents securities held by KKR Partners II (International), L.P. KKR PI-II GP Limited is the general partner of KKR Partners II (International), L.P.</footnote>
        <footnote id="F4">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.</remarks>

    <ownerSignature>
        <signatureName>KKR GROUP PARTNERSHIP L.P.
By: KKR Group Holdings Corp., its general partner
By: /s/ Christopher Lee
Name: Christopher Lee
Title: Assistant Secretary</signatureName>
        <signatureDate>2022-11-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR GROUP HOLDINGS CORP.
By: /s/ Christopher Lee
Name: Christopher Lee
Title: Assistant Secretary</signatureName>
        <signatureDate>2022-11-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR GROUP CO. INC.
By: /s/ Christopher Lee
Name: Christopher Lee
Title: Assistant Secretary</signatureName>
        <signatureDate>2022-11-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR &amp; CO. INC.
By: /s/ Christopher Lee
Name: Christopher Lee
Title: Assistant Secretary</signatureName>
        <signatureDate>2022-11-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>KKR MANAGEMENT LLP
By: /s/ Christopher Lee
Name: Christopher Lee
Title: Assistant Secretary</signatureName>
        <signatureDate>2022-11-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>HENRY R. KRAVIS
By: /s/ Christopher Lee
Name: Christopher Lee
Title: Attorney-in-fact</signatureName>
        <signatureDate>2022-11-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>GEORGE R. ROBERTS
By: /s/ Christopher Lee
Name: Christopher Lee
Title: Attorney-in-fact</signatureName>
        <signatureDate>2022-11-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
