UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
CB RICHARD ELLIS SERVICES, INC.
------------------------------
(Name of Issuer)
Common Stock, $0.01 par value
-----------------------------
(Title of Class of Securities)
12489L108
---------
(CUSIP Number)
Murray A. Indick
BLUM Capital Partners, L.P.
(formerly 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)
January 5, 2000
---------------
(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. 12489L108 SCHEDULE 13D Page 2 of 10
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RCBA STRATEGIC PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3303833
- ------------------------------------------------------------------------------
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 3,265,810**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,265,810**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,265,810**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 12489L108 SCHEDULE 13D Page 3 of 10
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RCBA 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 3,265,810**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,265,810**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,265,810**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 12489L108 SCHEDULE 13D Page 4 of 10
- -----------------------------------------------------------------------------
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 3,265,810**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,265,810**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,265,810**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 12489L108 SCHEDULE 13D Page 5 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* 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 3,265,810**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,265,810**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,265,810**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 12489L108 SCHEDULE 13D Page 6 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* 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 U.S.A.
- ------------------------------------------------------------------------------
7. SOLE VOTING POWER 10,000**
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,265,810**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER 10,000**
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,265,810**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,275,810**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 12489L108 SCHEDULE 13D Page 7 of 10
This Amendment No. 1 amends the Statement on Schedule 13D (the "Schedule
13D") filed with the Securities and Exchange Commission (the "Commission") on
November 18, 1999 by BLUM Capital Partners, L.P. (formerly Richard C. Blum &
Associates, L.P.), a California limited partnership ("BLUM LP"); Richard C.
Blum & Associates, Inc., a California corporation ("RCBA Inc."); RCBA
Strategic Partners, L.P., a Delaware limited partnership ("Strategic"); RCBA
GP, L.L.C., a Delaware limited liability company ("RCBA GP"); and Richard C.
Blum, the Chairman and a substantial shareholder of RCBA Inc. and a managing
member of RCBA GP (collectively, the "Reporting Persons"). This Amendment No.
1 relates to the Common Stock, $0.01 par value, (the "Common Stock") of CB
Richard Ellis Services, Inc., a Delaware corporation (the "Issuer"). The
principal executive office and mailing address of the Issuer is 200 North
Sepulveda Boulevard, El Segundo, California 90245-4380. The following
amendment to Item 5 of the Schedule 13D is 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
- ---------------------------------------------
(a),(b) According to the Issuer's most recent Form 10-Q, there were
20,684,495 shares of Common Stock outstanding as of October 29, 1999. Based
on such information, after taking into account the transactions described in
Item 5(c) below, the Reporting Persons report the following direct holdings
of the Common Stock and corresponding percentage interest of total shares
outstanding: (i) Strategic reports direct holdings of 2,198,800 shares of
the Common Stock (10.6%); (ii) BLUM LP and RCBA Inc. report holdings of
1,010,333 shares of the Common Stock (4.9%) owned directly by the limited
partnerships for which BLUM LP serves as the general partner and BLUM LP's
investment advisory client accounts, and (iii) BLUM LP reports direct
holdings of 577 shares of the Common Stock (less than 1%).
In addition, because BLUM LP has voting and investment power with respect to
56,100 shares that are legally owned by The Common Fund for the account of its
Equity Fund ("The Common Fund"), those shares are reported as beneficially
owned by BLUM LP. The Common Fund is principally engaged in the business of
managing investments for educational institutions. The principal
administrative office of The Common Fund is located at 450 Post Road East,
Westport, Connecticut 06881-0909. 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.
Voting and investment power concerning the above shares are held solely by
BLUM LP and RCBA GP. The Reporting Persons therefore may be deemed to be
members in a group, in which case each Reporting Person would be deemed to have
beneficial ownership of an aggregate of 3,265,810 shares of the Common
Stock, which is 15.8% of the outstanding shares of 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. As Chairman,
director and a substantial shareholder of RCBA Inc., Richard C. Blum might be
deemed to be the beneficial owner of the securities beneficially owned by RCBA
CUSIP NO. 12489L108 SCHEDULE 13D Page 8 of 10
Inc. Mr. Blum may also be deemed to be the beneficial owner of the securities
over which RCBA GP has voting and investment power. In addition, Mr. Blum, as a
member of the Issuer's Board of Directors, has sole beneficial ownership of
10,000 shares of the Common Stock, consisting of options currently exercisable.
Mr. Blum also has sole beneficial ownership of options which are convertible
into 1,443 shares of the Common Stock granted to him as of September 1, 1999
which became exercisable as of the date of grant, but which may not be
exercised during the period beginning on the date of grant and ending on the
date six months thereafter. Accordingly, Mr. Blum reports beneficial ownership
of 3,275,810 shares of the Common Stock which is 15.8% of the total Common
Stock shares outstanding. Although Mr. Blum is joining in this Schedule as a
Reporting Person, the filing of this Schedule shall not be construed as an
admission that he, or any of the other shareholders, directors or executive
officers of RCBA Inc., or managing members and members of RCBA GP, is, for any
purpose, the beneficial owner of any of the securities that are beneficially
owned by RCBA Inc. or RCBA GP, except to the extent of any pecuniary interest
therein.
(c) During the last 60 days, in addition to the open market purchases
described below, on December 15, 1999, one of the limited partnerships for
which BLUM LP serves as the general partner (i) distributed 6,690 shares of the
Common Stock to two of its limited partners in connection with the withdrawal
of the two limited partners from the limited partnership, and (ii) transferred
577 shares of the Common Stock to BLUM LP.
Entity Trade Date Shares Price/Share
- ------ ---------- ------- -----------
Strategic 01-04-2000 15,500 $11.3750
01-05-2000 1,124,300 $12.0000
BLUM LP's limited partnership 01-04-2000 4,500 $11.3750
and investment advisory client 01-05-2000 533,500 $12.0000
accounts (including The Common Fund)
(d) and (e) Not applicable.
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Exhibit A Joint Filing Undertaking.
CUSIP NO. 12489L108 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.
Dated: January 13, 2000
RCBA GP, L.L.C. RCBA STRATEGIC PARTNERS, L.P.
By RCBA GP, L.L.C.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick, Member Murray A. Indick, Member
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, 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
Partner, General Counsel Partner, General Counsel
and Secretary and Secretary
/s/ Murray A. Indick
---------------------------------------
RICHARD C. BLUM
By Murray A. Indick, Attorney-in-Fact
CUSIP NO. 12489L108 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 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: January 13, 2000
RCBA GP, L.L.C. RCBA STRATEGIC PARTNERS, L.P.
By RCBA GP, L.L.C.
its general partner
By /s/ Murray A. Indick By /s/ Murray A. Indick
------------------------------- -----------------------------------
Murray A. Indick, Member Murray A. Indick, Member
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, 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
Partner, General Counsel Partner, General Counsel
and Secretary and Secretary
/s/ Murray A. Indick
---------------------------------------
RICHARD C. BLUM
By Murray A. Indick, Attorney-in-Fact
