SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 2)1
Lennar Corporation
(formerly known as Pacific Greystone Corporation)
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(Name of Issuer)
Common Stock, $0.10 par value per share
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(Title of Class of Securities)
526057104
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(CUSIP Number)
July 1, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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1 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 the
disclosures provided in a prior cover page.
The information required in 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).
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SCHEDULE 13G
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CUSIP No. 526057104 Page 2 of 10
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Warburg, Pincus Investors, L.P.
I.D. #13-3549187
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
0 Shares of Common Stock
NUMBER OF
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6 SHARED VOTING POWER
SHARES 7,076,600 Shares of Common Stock
BENEFICIALLY
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7 SOLE DISPOSITIVE POWER
OWNED 0 Shares of Common Stock
BY EACH
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8 SHARED DISPOSITIVE POWER
REPORTING 7,076,600 Shares of Common Stock
PERSON WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,076,600 Shares of Common Stock
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.7%
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12 TYPE OF REPORTING PERSON
PN
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<PAGE>
SCHEDULE 13G
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CUSIP No. 526057104 Page 3 of 10
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Warburg, Pincus & Co.
I.D. #13-6358475
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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5 SOLE VOTING POWER
0 Shares of Common Stock
NUMBER OF
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6 SHARED VOTING POWER
SHARES 7,233,578 Shares of Common Stock*
BENEFICIALLY
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7 SOLE DISPOSITIVE POWER
OWNED 0 Shares of Common Stock
BY EACH
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8 SHARED DISPOSITIVE POWER
REPORTING 7,233,578 Shares of Common Stock*
PERSON WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,233,578 Shares of Common Stock*
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
15.0%
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12 TYPE OF REPORTING PERSON
PN
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* Warburg, Pincus & Co. may be deemed to benefically own 156,978 shares
included herein that are held by its asset management affiliate.
<PAGE>
SCHEDULE 13G
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CUSIP No. 526057104 Page 4 of 10
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
E.M. Warburg, Pincus & Co., LLC
ID #13-3536050
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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5 SOLE VOTING POWER
0 Shares of Common Stock
NUMBER OF
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6 SHARED VOTING POWER
SHARES 7,076,600 Shares of Common Stock
BENEFICIALLY
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7 SOLE DISPOSITIVE POWER
OWNED 0 Shares of Common Stock
BY EACH
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8 SHARED DISPOSITIVE POWER
REPORTING 7,076,600 Shares of Common Stock
PERSON WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,076,600 Shares of Common Stock
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
14.7%
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12 TYPE OF REPORTING PERSON
OO
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<PAGE>
SCHEDULE 13G
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CUSIP No. 526057104 Page 5 of 10
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ITEM 1(a): Name of Issuer:
Lennar Corporation (formerly known as Pacific Greystone Corporation)
ITEM 1(b): Address of Issuer's Principal Executive Offices:
700 Northwest 107th Avenue, Miami, Florida 33172
ITEM 2(a): Name of Persons Filing:
This Statement is filed by and on behalf of (a) Warburg, Pincus
Investors, L.P., a Delaware limited partnership ("WPI"); (b)
Warburg, Pincus & Co., a New York general partnership ("WP"); and
(c) E.M. Warburg, Pincus & Co., LLC, a New York limited liability
company ("EMW LLC"), which manages WPI. WP, the sole general partner
of WPI, has a 20% interest in the profits of WPI. Lionel I. Pincus
is the managing partner of WP and the managing member of EMW LLC and
may be deemed to control both WP and EMW LLC. The members of EMW LLC
are substantially the same as the partners of WP.
ITEM 2(b): Address of Principal Business Office or, if None, Residence:
466 Lexington Avenue
New York, New York 10017
ITEM 2(c): Citizenship:
Not applicable.
ITEM 2(d): Title of Class of Securities:
Common Stock, $0.10 par value per share (the "Common Stock").
ITEM 2(e): CUSIP Number:
526057104
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SCHEDULE 13G
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CUSIP No. 526057104 Page 6 of 10
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ITEM 3: If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b)
or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the
Exchange Act;
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act;
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act;
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section
3(b) of the Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this
box: [ ]
ITEM 4: Ownership.
(a) Amount Beneficially Owned:
7,076,600 shares of Common Stock as of December 31, 1998
(b) Percent of Class:
14.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
0 shares of Common Stock
(ii) Shared power to vote or to direct the vote:
7,076,600 shares of Common Stock
(iii) Sole power to dispose or to direct the disposition of:
0 shares of Common Stock
(iv) Shared power to dispose or to direct the disposition of:
7,076,600 shares of Common Stock
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SCHEDULE 13G
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CUSIP No. 526057104 Page 7 of 10
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ITEM 5: Owner of Five Percent or Less of a Class.
Not applicable.
ITEM 6: Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
ITEM 7: Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not applicable.
ITEM 8: Identification and Classification of Members of the Group.
Not applicable.
ITEM 9: Notice of Dissolution of a Group.
Not applicable.
ITEM 10: Certification.
Not applicable.
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SCHEDULE 13G
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CUSIP No. 526057104 Page 8 of 10
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.
Dated: February 2, 1999
WARBURG, PINCUS INVESTORS, L.P.
By: Warburg, Pincus & Co., General Partner
By: /s/ Stephen Distler
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Name: Stephen Distler
Title: Partner
WARBURG, PINCUS & CO.
By: /s/ Stephen Distler
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Name: Stephen Distler
Title: Partner
E.M. WARBURG, PINCUS & CO., LLC
By: /s/ Stephen Distler
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Name: Stephen Distler
Title: Member
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SCHEDULE 13G
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CUSIP No. 526057104 Page 9 of 10
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SCHEDULES
Schedule I Joint Filing Agreement, dated February 11, 1997, among the
signatories to this Amendment No. 2 to Schedule 13G.
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SCHEDULE 13G
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CUSIP No. 526057104 Page 10 of 10
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SCHEDULE I
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(f)(1)
The undersigned acknowledge and agree that the foregoing statement
on Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
filing agreements. The undersigned acknowledge that each shall be responsible
for the timely filing of such amendments, and for the completeness and accuracy
of the information concerning it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the others,
except to the extent that it knows or has reason to believe that such
information is inaccurate. This Agreement may be executed in any number of
counterparts and all of such counterparts taken together shall constitute one
and the same instrument.
Dated: February 11, 1997
WARBURG, PINCUS INVESTORS, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen Distler
Name: Stephen Distler
Title: Partner
WARBURG, PINCUS & CO.
By: /s/ Stephen Distler
Name: Stephen Distler
Title: Partner
E.M. WARBURG, PINCUS & CO., LLC
By: /s/ Stephen Distler
Name: Stephen Distler
Title: Member
