UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
PERINI CORPORATION
------------------
(Name of Issuer)
Common Stock and
Series B Cumulative Convertible Preferred Stock
-----------------------------------------------
(Title of Class of Securities)
713-839108
----------
(CUSIP Number)
Murray A. Indick
Richard C. Blum & Associates, 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)
June 22, 1999
-------------
(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 10
CUSIP NO. 713-839108 SCHEDULE 13D Page 2 of 10
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON PB CAPITAL PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3248865
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]**
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
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 117,190.62
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 2,470,547
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 117,190.62
(of Series B Shares)**
2,470,547
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 117,190.62
(of Series B Shares)**
2,470,547
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 61.5%
(of Series B Shares)**
30.3%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 3 of 10
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, 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* Not Applicable
- ------------------------------------------------------------------------------
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 146,757.92
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 3,085,557
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 146,757.92
(of Series B Shares)**
3,085,557
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 146,757.92
(of Series B Shares)**
3,085,557
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.0%
(of Series B Shares)**
35.2%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 4 of 10
- ------------------------------------------------------------------------------
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* Not Applicable
- ------------------------------------------------------------------------------
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 146,757.92
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 3,085,557
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 146,757.92
(of Series B Shares)**
3,085,557
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 146,757.92
(of Series B Shares)**
3,085,557
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.0%
(of Series B Shares)**
35.2%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 5 of 10
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ###-##-####
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]**
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* Not Applicable
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION New York
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 146,757.92
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 3,085,557
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 146,757.92
(of Series B Shares)**
3,085,557
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 146,757.92
(of Series B Shares)**
3,085,557
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 77.0%
(of Series B Shares)**
35.2%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 6 of 10
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 23-7037968
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]**
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. SOURCE OF FUNDS* WC
- ------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION USA
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 29,567.30
BENEFICIALLY (of Series B Shares)**
OWNED BY EACH 610,756
PERSON WITH (of common stock, after conversion)**
-----------------------------------------------------------
9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 29,567.30
(of Series B Shares)**
610,756
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 29,567.30
(of Series B Shares)**
610,756
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.5%
(of Series B Shares)**
9.7%
(of common stock, after conversion)**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 713-839108 SCHEDULE 13D Page 7 of 10
This Amendment No. 3 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission (the "Commission") May 29,
1997 by PB Capital Partners, L.P., a Delaware limited partnership ("PB
Capital"), Richard C. Blum & Associates, L.P., a California limited
partnership ("RCBA L.P."); Richard C. Blum & Associates, Inc., a California
corporation ("RCBA Inc."); Richard C. Blum, the Chairman and a substantial
shareholder of RCBA Inc.; and The Common Fund for Non-Profit Organizations, a
New York non-profit corporation ("The Common Fund") (collectively, the
"Reporting Persons"). This Amendment No. 3 relates to the Series B Cumulative
Convertible Preferred Stock (the "Series B Shares") of the Perini Corporation
(the "Issuer") and the common stock of the Issuer into which such stock is
convertible. The principal executive office and mailing address of the Issuer
is 73 Mt. Wayne Avenue, Framingham, Massachusetts 01701. 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.
Item 5. Interest in Securities of the Issuer
- ---------------------------------------------
Item 5 of the Schedule 13D is hereby amended as follows:
(a),(b) According to information provided by Issuer, there were 190,537.87
shares of the Series B Shares and 5,680,485 shares of the Common Stock issued
and outstanding as of June 15, 1999.
Based on the above information, after taking into account the transactions
described in Item 5(c) below, the following Reporting Persons will report the
following holdings and corresponding percentage interests in the Series B
Shares and Common Shares (assuming the conversion of each Reporting Person's
Series B Shares into Common Shares):
Total Common Shares
Series B Shares (after conversion)
--------------------- ---------------------
Name No. Owned % Owned No. Owned % Owned
- ----------------- --------- ------- --------- -------
PB Capital 117,190.62 61.5% 2,470,547(1) 30.3%
The Common Fund 29,567.30 15.5% 610,756 9.7%
RCBA L.P. 146,757.92 77.0% 3,085,557(2) 35.2%
RCBA Inc. 146,757.92 77.0% 3,085,557(2) 35.2%
Richard C. Blum 146,757.92 77.0% 3,085,557(2) 35.2%
Note (1) Includes 49,801 shares of common stock of Issuer owned by the United
Brotherhood of Carpenters and Joiners of America Local Unions Councils Pension
Fund ("UBC"), which is a limited partner of PB Capital.
Note (2) Includes shares of common stock (after conversion) of Issuer as
follows: the 2,470,547 shares described in Note (1); the 610,756 shares owned
by The Common Fund; and 4,254 shares owned by RCBA L.P. Richard C. Blum is a
significant stockholder and chairman of RCBA Inc., the general partner of RCBA
L.P., which is the general partner of PB Capital and investment advisor to The
Common Fund with voting and investment power over The Common Fund's shares.
RCBA L.P., RCBA Inc. and Mr. Blum disclaim beneficial ownership of such shares
CUSIP NO. 713-839108 SCHEDULE 13D Page 8 of 10
except to the extent of any pecuniary interest therein. The Common Fund
disclaims membership in a group with any of the Reporting Persons, and
disclaims beneficial ownership of any shares held by the Reporting Persons.
(c) On June 22, 1999, the Issuer issued 2,858.31 additional Series B Shares
to PB Capital as payment-in-kind dividends payable on PB Capital's pre-
existing Series B Shares, and 721.15 additional Series B Shares to The Common
Fund as payment-in-kind dividends payable on The Common Fund's pre-existing
Series B Shares. The Reporting Persons have engaged in no transaction
involving shares of the Common Stock for the 60 days prior to the date of the
event requiring the filing of this statement.
(d), (e) No change.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
- ----------------------------------------------------------------------
Except as previously disclosed, none of the Reporting Persons or, to the best
knowledge of the Reporting Persons, the other persons named in Item 2, is a
party to any contract, arrangement, understanding or relationship with respect
to any securities of the Issuer, including but not limited to the transfer or
voting of any securities of the Issuer, finder's fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits, division of profits
or loss, or the giving or withholding of proxies, except (i) as previously
disclosed, or (ii) as noted above, RCBA L.P. has the power to vote and dispose
of the Series B Shares held by it for the benefit of the Common Fund.
Item 7. Material to Be Filed as Exhibits
- --------------------------------------------
Exhibit A Joint Filing Undertaking
CUSIP NO. 713-839108 SCHEDULE 13D Page 9 of 10
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.
June 30, 1999
RICHARD C. BLUM & ASSOCIATES, INC. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick Murray A. Indick
Managing Director, General Managing Director, General Counsel,
Counsel, Chief Administrative Chief Administrative Officer and
Officer and Secretary Secretary
/s/ Murray A. Indick
PB CAPITAL PARTNERS, L.P. -------------------------------------
By Richard C. Blum & Associates, L.P., RICHARD C. BLUM
its general partner
By Richard C. Blum & Associates, Inc., By Murray A. Indick
its general partner Attorney-in-Fact
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick
Managing Director, General
Counsel, Chief Administrative
Officer and Secretary
THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS
By Richard C. Blum & Associates, L.P.,
its investment advisor
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick
Managing Director, General
Counsel, Chief Administrative
Officer and Secretary
CUSIP NO. 713-839108 SCHEDULE 13D Page 10 of 10
Exhibit A
Joint Filing Undertaking
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to the 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.
June 30, 1999
RICHARD C. BLUM & ASSOCIATES, INC. RICHARD C. BLUM & ASSOCIATES, L.P.
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick Murray A. Indick
Managing Director, General Managing Director, General Counsel,
Counsel, Chief Administrative Chief Administrative Officer and
Officer and Secretary Secretary
/s/ Murray A. Indick
PB CAPITAL PARTNERS, L.P. -------------------------------------
By Richard C. Blum & Associates, L.P., RICHARD C. BLUM
its general partner
By Richard C. Blum & Associates, Inc., By Murray A. Indick
its general partner Attorney-in-Fact
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick
Managing Director, General
Counsel, Chief Administrative
Officer and Secretary
THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS
By Richard C. Blum & Associates, L.P.,
its investment advisor
By Richard C. Blum & Associates, Inc.
its general partner
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick
Managing Director, General
Counsel, Chief Administrative
Officer and Secretary
