UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
Bridgepoint Education, Inc.
---------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
10807M105
---------
(CUSIP Number)
April 20, 2009
--------------
(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)
[X] Rule 13d-1(d)
*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 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 (the "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).
------------------- ------------------
CUSIP No. 10807M105 13G Page 2 of 12 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Warburg Pincus Private Equity VIII, L.P.
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 34,589,220
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
34,589,220
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,589,220
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
65.1%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 10807M105 13G Page 3 of 12 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Warburg Pincus & Co.
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 34,589,220
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
34,589,220
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,589,220
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
65.1%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 10807M105 13G Page 4 of 12 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Warburg Pincus LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 34,589,220
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
34,589,220
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,589,220
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
65.1%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
OO
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 10807M105 13G Page 5 of 12 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Warburg Pincus Partners, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 34,589,220
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
34,589,220
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,589,220
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
65.1%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
OO
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 10807M105 13G Page 6 of 12 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Charles R. Kaye
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 34,589,220
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
34,589,220
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,589,220
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
65.1%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
---------- ---------------------------------------------------------------------
------------------- ------------------
CUSIP No. 10807M105 13G Page 7 of 12 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Joseph P. Landy
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 34,589,220
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
34,589,220
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
34,589,220
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
65.1%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
---------- ---------------------------------------------------------------------
Item 1(a): Name of Issuer:
--------- --------------
The name of the issuer is Bridgepoint Education, Inc., a corporation organized
under the laws of the State of Delaware (the "Company").
Item 1(b): Address of Issuer's Principal Executive Offices:
--------- -----------------------------------------------
The Company's principal executive office is located at 13500 Evening Creek Drive
North, Suite 600, San Diego, California 92128.
Item 2(a): Name of Person Filing:
--------- ---------------------
This Schedule 13G is filed by Warburg Pincus Private Equity VIII, L.P., a
Delaware limited partnership ("WP VIII"). WP VIII is the direct record owner of
34,589,220 shares of Common Stock (as defined below) of the Company. Warburg
Pincus Partners, LLC, a New York limited liability company ("WP Partners"), a
direct subsidiary of Warburg Pincus & Co., a New York general partnership
("WP"), is the general partner of WP VIII. WP is the managing member of WP
Partners. WP VIII is managed by Warburg Pincus LLC, a New York limited liability
company ("WP LLC"). WP VIII, WP Partners, WP and WP LLC are collectively
referred to as the "Warburg Pincus Entities." Charles R. Kaye and Joseph P.
Landy are each Managing General Partners of WP and Managing Members and
Co-Presidents of WP LLC and may be deemed to control the Warburg Pincus
Entities. Each of the Warburg Pincus Entities, Mr. Kaye and Mr. Landy disclaims
beneficial ownership of the Common Stock except to the extent of any indirect
pecuniary interest therein. Mr. Kaye, Mr. Landy and the Warburg Pincus Entities
are sometimes collectively referred to herein as the "Warburg Pincus Reporting
Persons." Any disclosures herein with respect to persons other than the Warburg
Pincus Reporting Persons are made on information and belief after making inquiry
to the appropriate party.
Item 2(b): Address of Principal Business Office or, if none, Residence:
--------- -----------------------------------------------------------
The address of the principal business office of the Warburg Pincus Reporting
Persons is c/o Warburg Pincus & Co., 466 Lexington Avenue, New York, New York
10017.
Item 2(c): Citizenship:
--------- -----------
WP VIII is a Delaware limited partnership, WP Partners is a New York limited
liability company, WP is a New York general partnership and WP LLC is a New York
limited liability company. Mr. Kaye and Mr. Landy are United States citizens.
Item 2(d): Title of Class of Securities:
--------- ----------------------------
Common Stock, par value $0.01 ("Common Stock").
Item 2(e): CUSIP Number:
--------- ------------
10807M105
Item 3: If this statement is filed pursuant to Rules 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 Act,
B. [ ] Bank as defined in Section 3(a)(6) of the Act,
-8-
C. [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
D. [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
E. [ ] Investment Adviser in accordance with Rule 13d-1
(b)(1)(ii)(E),
F. [ ] Employee Benefit Plan or Endowment Fund in accordance with
13d-1 (b)(1)(ii)(F),
G. [ ] Parent Holding Company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G),
H. [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
I. [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940,
J. [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4: Ownership:
------ ----------
The information required by Items 4(a)-(c) is set forth in Rows 5-11 of the
cover page hereto for each Warburg Pincus Reporting Person and is incorporated
herein by reference for each such Warburg Pincus Reporting Person.
Item 5: Ownership of Five Percent or Less of a Class:
------ --------------------------------------------
If this statement is being filed to report the fact that as of the date hereof
the Warburg Pincus Reporting Person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following: [ ]
Item 6: Ownership of More than Five Percent on Behalf of Another Person:
------ ---------------------------------------------------------------
Other than as set forth herein, no other person has the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of,
in excess of 5% of the total outstanding Common Stock.
Item 7: Identification and Classification of the Subsidiary Which
------ ---------------------------------------------------------
Acquired the Security Being Reported on by the Parent Holding
-------------------------------------------------------------
Company or Control Person:
-------------------------
Not applicable.
Item 8: Identification and Classification of Members of the Group:
------ ---------------------------------------------------------
The Warburg Pincus Reporting Persons are making this single, joint filing
because they may be deemed to constitute a "group" within the meaning of Section
13(d)(3) of the Securities Exchange Act of 1934, as amended. The agreement among
the Warburg Pincus Reporting Persons to file jointly is attached hereto as
Exhibit 99.1. Each of the Warburg Pincus Reporting Persons disclaims beneficial
ownership of all of the shares of Common Stock, except to the extent of any
pecuniary interest therein.
Item 9: Notice of Dissolution of Group:
------ ------------------------------
Not applicable.
-9-
Item 10: Certifications:
------- --------------
Not applicable.
-10-
SIGNATURE
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: May 8, 2009
WARBURG PINCUS PRIVATE EQUITY VIII, L.P.
By: Warburg Pincus Partners LLC, its General Partner
By: Warburg Pincus & Co., its Managing Member
By: /s/ Scott A. Arenare
--------------------------------------------------
Name: Scott A. Arenare
Title: Partner
WARBURG PINCUS PARTNERS, LLC
By: Warburg Pincus & Co., its Managing Member
By: /s/ Scott A. Arenare
--------------------------------------------------
Name: Scott A. Arenare
Title: Partner
WARBURG PINCUS & CO.
By: /s/ Scott A. Arenare
--------------------------------------------------
Name: Scott A. Arenare
Title: Partner
WARBURG PINCUS LLC
By: /s/ Scott A. Arenare
--------------------------------------------------
Name: Scott A. Arenare
Title: Managing Director
By: /s/ Scott A. Arenare
--------------------------------------------------
Charles R. Kaye
By: Scott A. Arenare
Title: Attorney-in-Fact*
By: /s/ Scott A. Arenare
--------------------------------------------------
Joseph P. Landy
By: Scott A. Arenare
Title: Attorney-in-Fact**
* The Power of Attorney given by Mr. Kaye was previously filed as Exhibit 24.2
with the Warburg Pincus Private Equity IX, L.P. Form 3 for Builders FirstSource,
Inc., on March 3, 2006, and is hereby incorporated by reference.
** The Power of Attorney given by Mr. Landy was previously filed as Exhibit 24.1
with the Warburg Pincus Private Equity IX, L.P. Form 3 for Builders FirstSource,
Inc., on March 3, 2006, and is hereby incorporated by reference.
EXHIBIT INDEX
-------------
Exhibit 99.1: Joint Filing Agreement, dated May 8, 2009, by and between the
Warburg Pincus Reporting Persons.