Sec Form 13G Filing - Carlyle Group Inc. (CG) filing for PPD Inc. (PPD) - 2021-02-12

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>

 

 

United States

Securities and Exchange Commission

Washington, D.C. 20549

 

 

Schedule 13G

(Rule 13d-102)

Information to be Included in Statements Filed Pursuant

to § 240.13d-1(b), (c) and (d) and Amendments Thereto Filed

Pursuant to § 240.13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.    )*

 

 

PPD, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

69355F102

(CUSIP Number)

December 31, 2020

(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)

 

*

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).

 

 

 


CUSIP No. 63955F102    Schedule 13G    Page 1 of 16

 

  1    

  Names of Reporting Persons

 

  The Carlyle Group Inc.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  CO


CUSIP No. 63955F102    Schedule 13G    Page 2 of 16

 

  1    

  Names of Reporting Persons

 

  Carlyle Group Management L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 63955F102    Schedule 13G    Page 3 of 16

 

  1    

  Names of Reporting Persons

 

  Carlyle Holdings II GP L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 63955F102    Schedule 13G    Page 4 of 16

 

  1    

  Names of Reporting Persons

 

  Carlyle Holdings II L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 63955F102    Schedule 13G    Page 5 of 16

 

  1    

  Names of Reporting Persons

 

  CG Subsidiary Holdings L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 63955F102    Schedule 13G    Page 6 of 16

 

  1    

  Names of Reporting Persons

 

  TC Group Cayman Investment Holdings, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Cayman Islands

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  PN


CUSIP No. 63955F102    Schedule 13G    Page 7 of 16

 

  1    

  Names of Reporting Persons

 

  TC Group Cayman Investment Holdings Sub L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Cayman Islands

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  PN


CUSIP No. 63955F102    Schedule 13G    Page 8 of 16

 

  1    

  Names of Reporting Persons

 

  TC Group VI, L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 63955F102    Schedule 13G    Page 9 of 16

 

  1    

  Names of Reporting Persons

 

  TC Group VI, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  PN


CUSIP No. 63955F102    Schedule 13G    Page 10 of 16

 

  1    

  Names of Reporting Persons

 

  Carlyle Partners VI Holdings II, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0

   6   

  Shared Voting Power

 

  55,722,733

   7   

  Sole Dispositive Power

 

  0

   8   

  Shared Dispositive Power

 

  55,722,733

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  55,722,733

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  15.9%

12  

  Type of Reporting Person

 

  PN


CUSIP No. 63955F102    Schedule 13G    Page 11 of 16

 

ITEM 1.

(a)     Name of Issuer:

PPD, Inc. (the “Issuer”)

 

  (b)

Address of Issuer’s Principal Executive Offices:

929 North Front Street

Wilmington, NC 28401

 

ITEM 2.

(a)     Name of Person Filing:

Each of the following is hereinafter individually referred to as a “Reporting Person” and collectively as the “Reporting Persons.” This statement is filed on behalf of:

Carlyle Group Management L.L.C.

The Carlyle Group Inc.

Carlyle Holdings II GP L.L.C.

Carlyle Holdings II L.L.C.

CG Subsidiary Holdings L.L.C.

TC Group Cayman Investment Holdings, L.P.

TC Group Cayman Investment Holdings Sub L.P.

TC Group VI, L.L.C.

TC Group VI, L.P.

Carlyle Partners VI Holdings II, L.P.

 

  (b)

Address or Principal Business Office:

The address for each of TC Group Cayman Investment Holdings, L.P. and TC Group Cayman Investment Holdings Sub L.P. is c/o Walkers, Cayman Corporate Center, 27 Hospital Road, George Town, Grand Cayman KY1-9008, Cayman Islands. The address for each of the remaining Reporting Persons is c/o The Carlyle Group Inc., 1001 Pennsylvania Avenue NW, Suite 220 South, Washington, D.C. 20004-2505.

 

  (c)

Citizenship of each Reporting Person is:

Each of TC Group Cayman Investment Holdings, L.P. and TC Group Cayman Investment Holdings Sub L.P. is organized under the laws of the Cayman Islands. Each of the remaining Reporting Persons is organized under the laws of the state of Delaware.

 

  (d)

Title of Class of Securities:

Common stock, par value $0.01 per share (“Common Stock”).


CUSIP No. 63955F102    Schedule 13G    Page 12 of 16

 

  (e)

CUSIP Number:

63955F102

 

ITEM 3.

Not applicable.

 

ITEM 4.

Ownership.

 

  (a-c)

The ownership information presented below represents beneficial ownership of Common Stock of the Issuer as of December 31, 2020, based upon 349,654,449 shares of Common Stock outstanding as of October 26, 2020, based on the quarterly report on Form 10-Q filed with the Securities and Exchange Commission on October 28, 2020.

 

Reporting Person   

Amount

beneficially

owned

    

Percent

of class:

    Sole
power
to vote
or to
direct
the vote:
     Shared
power to
vote or to
direct the
vote:
    

Sole
power to
dispose or
to direct
the
disposition

of:

    

Shared

power to

dispose or

to direct

the

disposition

of:

 

Carlyle Group Management L.L.C.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

The Carlyle Group Inc.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

Carlyle Holdings II GP L.L.C.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

Carlyle Holdings II L.L.C.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

CG Subsidiary Holdings L.L.C.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

TC Group Cayman Investment Holdings, L.P.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

TC Group Cayman Investment Holdings Sub L.P.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

TC Group VI, L.L.C.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

TC Group VI, L.P.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

Carlyle Partners VI Holdings II, L.P.

     55,722,733        15.9     0        55,722,733        0        55,722,733  

Carlyle Partners VI Holdings II, L.P., is the record holder of the shares of Common Stock reported herein.

Carlyle Group Management L.L.C. holds an irrevocable proxy to vote a majority of the shares of The Carlyle Group Inc., a publicly traded company listed on Nasdaq. The Carlyle Group Inc. is the sole member of Carlyle Holdings II GP L.L.C., which is the managing member of Carlyle Holdings II L.L.C., which, with respect to the securities reported herein, is the managing member of CG Subsidiary Holdings L.L.C., which is the general partner of TC Group Cayman Investment Holdings, L.P., which is the general partner of TC Group Cayman Investment Holdings Sub L.P., which is the sole member of TC Group VI, L.L.C., which is the general partner of TC Group VI, L.P., which is the general partner of Carlyle Partners VI Holdings II, L.P. Accordingly, each of the foregoing entities may be deemed to share beneficial ownership of the securities held of record by Carlyle Partners VI Holdings II, L.P.


CUSIP No. 63955F102    Schedule 13G    Page 13 of 16

 

ITEM 5.

Ownership 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 Group.

Not applicable.

 

ITEM 10.

Certification.

Not applicable.


CUSIP No. 63955F102    Schedule 13G    Page 14 of 16

 

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.

Date: February 12, 2021

 

Carlyle Group Management L.L.C.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Chief Financial Officer
The Carlyle Group Inc.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director and Chief Financial Officer
Carlyle Holdings II GP L.L.C.
By:   The Carlyle Group Inc., its sole member
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director and Chief Financial Officer
Carlyle Holdings II L.L.C.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director
CG Subsidiary Holdings L.L.C.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director
TC Group Cayman Investment Holdings, L.P.
By:   CG Subsidiary Holdings L.L.C., its general partner
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director


CUSIP No. 63955F102    Schedule 13G    Page 15 of 16

 

TC Group Cayman Investment Holdings Sub L.P.
By: TC Group Cayman Investment Holdings, L.P., its general partner
By: CG Subsidiary Holdings L.L.C., its general partner
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director
TC Group VI, L.L.C.
By:  

/s/ Jeremy W. Anderson

Name:   Jeremy W. Anderson
Title:   Authorized Person
TC Group VI, L.P.
By:  

/s/ Jeremy W. Anderson

Name:   Jeremy W. Anderson
Title:   Authorized Person
Carlyle Partners VI Holdings II, L.P.
By: TC Group VI, L.P., its general partner
By:  

/s/ Jeremy W. Anderson

Name:   Jeremy W. Anderson
Title:   Authorized Person


CUSIP No. 63955F102    Schedule 13G    Page 16 of 16

 

LIST OF EXHIBITS

 

Exhibit No.

  

Description

24    Power of Attorney.
99    Joint Filing Agreement.