UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
WADDELL & REED FINANCIAL, INC.
------------------------------
(Name of Issuer)
Class A Common Stock, Par Value $0.01
Class B Common Stock, Par Value $0.01
-------------------------------------
(Title of Class of Securities)
930059100
930059209
---------
(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)
November 8, 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 12
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 2 of 12
- ------------------------------------------------------------------------------
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 Class A Common Stock 5,013,900**
BENEFICIALLY Class B Common Stock 3,058,600**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 16.9%**
Class B Common Stock 10.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 3 of 12
- ------------------------------------------------------------------------------
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 Class A Common Stock 5,013,900**
BENEFICIALLY Class B Common Stock 3,058,600**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 16.9%**
Class B Common Stock 10.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 4 of 12
- ------------------------------------------------------------------------------
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 Class A Common Stock 5,013,900**
BENEFICIALLY Class B Common Stock 3,058,600**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 16.9%**
Class B Common Stock 10.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 5 of 12
- ------------------------------------------------------------------------------
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 Class A Common Stock 5,013,900**
BENEFICIALLY Class B Common Stock 3,058,600**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 16.9%**
Class B Common Stock 10.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 6 of 12
- ------------------------------------------------------------------------------
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 -0-
NUMBER OF -----------------------------------------------------------
SHARES 8. SHARED VOTING POWER Class A Common Stock 5,013,900**
BENEFICIALLY Class B Common Stock 3,058,600**
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Class A Common Stock 5,013,900**
Class B Common Stock 3,058,600**
- ------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A Common Stock 16.9%**
Class B Common Stock 10.8%**
- ------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See Item 5 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 7 of 12
This Amendment No. 8 amends the Statement on Schedule 13D (the "Schedule 13D")
filed with the Securities and Exchange Commission (the "Commission") on August
20, 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.
8 relates to the shares of Class A Common Stock, par value $0.01, and Class B
Common Stock, par value $0.01, (collectively, the "Common Stock"). The
principal executive office and mailing address of the Issuer is 6300 Lamar
Avenue, Overland Park, Kansas 66202. The following amendments to Item 2 and
Item 5 of 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 2. Identity and Background
- --------------------------------
Item 2 of the Schedule 13D is hereby amended to include the following
additional information.
In September 1999, Richard C. Blum & Associates, L.P. changed its name to BLUM
Capital Partners, L.P. BLUM LP is a California limited partnership whose
principal business is acting as general partner for investment partnerships
and providing investment advisory services. BLUM LP is an investment advisor
registered with the Securities and Exchange Commission. The sole general
partner of BLUM LP is RCBA Inc.
The principal business office address of BLUM LP and RCBA Inc. is 909
Montgomery Street, Suite 400, San Francisco, California 94133. The names of
the executive officers and directors of RCBA Inc., their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
President & Suite 400 BLUM LP
Chairman San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. Norway Managing Partner,
Managing Partner Suite 400 BLUM LP
& Director San Francisco, CA 94133
Jeffrey W. Ubben 909 Montgomery St. USA Managing Partner,
Managing Partner Suite 400 BLUM LP
& Director San Francisco, CA 94133
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 8 of 12
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- --------------------
Claus J. Moller 909 Montgomery St. Denmark Managing Partner,
Managing Partner Suite 400 BLUM LP
& Director San Francisco, CA 94133
George F. Hamel, Jr. 909 Montgomery St. USA Partner,
Partner Suite 400 BLUM LP
San Francisco, CA 94133
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Partner, Chief Suite 400 Financial Officer,
Chief Financial, San Francisco, CA 94133 BLUM LP
Assistant Secretary
& Director
Murray A. Indick 909 Montgomery St. USA Partner and
Partner, General Suite 400 General Counsel,
Counsel & Secretary San Francisco, CA 94133 BLUM LP
John C. Walker 909 Montgomery St. USA Partner,
Partner Suite 400 BLUM LP
San Francisco, CA 94133
Kevin A. Richardson 909 Montgomery St. USA Partner,
Partner Suite 400 BLUM LP
San Francisco, CA 94133
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to such
laws.
Item 5. Interest in Securities of the Issuer
- ---------------------------------------------
Item 5 of the Schedule 13D is hereby amended as follows:
(a),(b) According to the Issuer's most recent Form 10-Q, there were 29,613,495
shares of the Class A Common Stock outstanding and 28,271,847 shares of the
Class B Common Stock outstanding, as of September 30, 1999. Based on such
information, after taking into account the transactions described in Item 5(c)
below, the Reporting Persons report direct holdings and the corresponding
percentage interest of total shares outstanding as follows: (i) BLUM LP and
RCBA Inc. report holdings of 2,540,700 shares of the Class A Common Stock
(8.6%) and 1,469,100 shares of the Class B Common Stock (5.2%) on
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 9 of 12
behalf of the limited partnerships for which BLUM LP serves as the general
partner and BLUM LP's investment advisory client accounts; (ii) Strategic
reports holdings of 2,093,700 shares of the Class A Common Stock (7.1%) and
1,403,300 shares of the Class B Common Stock (5.0%); and (iii) Mr. Blum
reports the aggregate of these shares for a total of 4,634,400 shares of the
Class A Common Stock (15.6%) and 2,872,400 shares of the Class B Common Stock
(10.2%).
In addition, because BLUM LP has voting and investment power with respect to
379,500 shares of the Class A Common Stock and 186,200 shares of the Class B
Common Stock 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 5,013,900 shares of the Class A
Common Stock (16.9% of the Class A Common Stock shares outstanding) and
3,058,600 shares of the Class B Common Stock (10.8% of the Class B Common
Stock outstanding). 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 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 Inc. Additionally, Mr. Blum might be deemed to be
the beneficial owner of the securities over which RCBA GP has voting and
investment power. 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, the Reporting Persons purchased the following
shares of Common Stock in the open market:
Entity Trade Date Class Shares Price/Share
- ------ ---------- ----- ------ ------------
BLUM LP's limited partnership 09-20-99 Class B 13,100 22.4580
and investment advisory client 09-21-99 Class B 15,000 22.2500
accounts (including 09-27-99 Class B 3,300 21.9375
The Common Fund) 11-08-99 Class B 276,300 23.6250
11-11-99 Class B 40,000 23.0000
11-12-99 Class B 20,000 23.0000
(d) and (e) Not applicable.
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 10 of 12
Item 7. Material to be Filed as Exhibits
- -----------------------------------------
Exhibit A Joint Filing Undertaking.
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 11 of 12
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: November 18, 1999
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
RCBA GP, L.L.C.
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
RCBA STRATEGIC PARTNERS, L.P.
By RCBA GP, L.L.C., its general partner
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
/s/ Murray A. Indick
- ------------------------------------
RICHARD C. BLUM
By Murray A. Indick, Attorney-in-Fact
CUSIP NO. 930059100, 930059209 SCHEDULE 13D Page 12 of 12
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: November 18, 1999
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
RCBA GP, L.L.C.
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
RCBA STRATEGIC PARTNERS, L.P.
By RCBA GP, L.L.C., its general partner
By /s/ Murray A. Indick
-------------------------------
Murray A. Indick, Member
/s/ Murray A. Indick
- ------------------------------------
RICHARD C. BLUM
By Murray A. Indick, Attorney-in-Fact
