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In a 13D filing after the close on Collective Brands, Inc. (NYSE:PSS), Blum Capital disclosed a 5.6% stake (3,603,967 shares) in the company. The firm held 3197314 PSS shares at the quarter ended 3/31/08. A 13D indicates a possible 'activist' investment.

In a pretty standard disclosure, Blum Capital did not make any direct requests on Collective Brands, but said it will monitor its investment and may enter discussions with management, the Board of Directors or others.

Collective Brands, Inc., through its subsidiaries, engages in the wholesale and retail of footwear and related accessories worldwide.

Blum Capital Partners is a $2.8 billion investment firm based in San Francisco. The firm makes strategic block and control investments in public and private transactions. The firm's investment strategy combines the private equity process applied to the public markets along with an ability to play a constructive and active role in unlocking value from portfolio companies through the implementation of financial, operational and governance initiatives.

Source: Blum Capital Boosts Stake in Collective Brands to 5.6%