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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001181431-10-049763.txt : 20101005
<SEC-HEADER>0001181431-10-049763.hdr.sgml : 20101005
<ACCEPTANCE-DATETIME>20101005162406
ACCESSION NUMBER:		0001181431-10-049763
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100930
FILED AS OF DATE:		20101005
DATE AS OF CHANGE:		20101005

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDUCATION MANAGEMENT CORPORATION
		CENTRAL INDEX KEY:			0000880059
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				251119571
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		300 SIXTH AVENUE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222
		BUSINESS PHONE:		4125620900

	MAIL ADDRESS:	
		STREET 1:		300 SIXTH AVE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CITIGROUP INC
		CENTRAL INDEX KEY:			0000831001
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34466
		FILM NUMBER:		101109495

	BUSINESS ADDRESS:	
		STREET 1:		399 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10043
		BUSINESS PHONE:		2125591000

	MAIL ADDRESS:	
		STREET 1:		399 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10043

	FORMER NAME:	
		FORMER CONFORMED NAME:	TRAVELERS GROUP INC
		DATE OF NAME CHANGE:	19950519

	FORMER NAME:	
		FORMER CONFORMED NAME:	TRAVELERS INC
		DATE OF NAME CHANGE:	19940103

	FORMER NAME:	
		FORMER CONFORMED NAME:	PRIMERICA CORP /NEW/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd288022.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-09-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000880059</issuerCik>
        <issuerName>EDUCATION MANAGEMENT CORPORATION</issuerName>
        <issuerTradingSymbol>EDMC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000831001</rptOwnerCik>
            <rptOwnerName>CITIGROUP INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>399 PARK AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10043</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2010-09-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1191522</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>624783</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Subsidiary</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On September 30, 2010, Citigroup Alternative Investments LLC (&quot;CAI&quot;) transferred its general partnership interests in each of Citigroup Capital Partners II 2006 Citigroup Investment, L.P. (now known as 2006 Co-Investment Portfolio, L.P.) (&quot;StepStone Investment&quot;), Citigroup Capital Partners II Onshore, L.P. (now known as StepStone Capital Partners II Onshore, L.P.) (&quot;StepStone Onshore&quot;), Citigroup Capital Partners II Cayman Holdings, L.P. (now known as StepStone Capital Partners II Cayman Holdings, L.P.) (&quot;StepStone Cayman,&quot; and together with StepStone Investment and StepStone Onshore, the &quot;StepStone Funds&quot;) for no consideration. On the same date, StepStone Group LLC replaced CAI as investment manager of each of the StepStone Funds. Neither StepStone Co-Investment nor StepStone Group LLC is an affiliate of Citigroup Inc. (&quot;Citigroup&quot;).</footnote>
        <footnote id="F2">The reporting person may be deemed a member of a group beneficially owning 10% or more of the common stock of the issuer within the meaning of Section 13(d) of the Securities Exchange Act of 1934. Except as set forth below, the reporting person disclaims beneficial ownership of all securities other than those reported above, and this report shall not be deemed an admission that such a group exists or that the reporting person is the beneficial owner of the securities of such group for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F3">The securities reporting herein are directly beneficially owned by Citigroup Private Equity LP (&quot;CPE&quot;) and Citigroup Global Markets Inc. (&quot;CGMI&quot;), each of which is an indirect wholly-owned subsidiary of the reporting person. CAI is the sole stockholder of CPE. Citigroup Financial Products Inc. (&quot;CFP&quot;) is the sole stockholder of CGMI. Citigroup Global Markets Holdings Inc. (&quot;CGMH&quot;) is the sole stockholder of CFP. Citigroup is the sole stockholder of each of CAI and CGMH. CAI, CFP, CGMH and Citigroup are indirect beneficial owners of the securities reported herein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Citigroup, Inc., By: /s/ Ali L. Karshan, Assistant Secretary</signatureName>
        <signatureDate>2010-10-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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