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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3) *
Arch Capital Group Ltd.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Shares, par value $0.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
G0450A105
--------------------------------------------------------------------------------
(CUSIP Number)
Mark C. Wehrly
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(415) 421-2132
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 31, 2004
--------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent.
* 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).
(Continued on following pages)
Page 1 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
onthis cover page, however, is a beneficial owner
only of the securities reported by it on this cover
page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
WC, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,235,551 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
1,235,551 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,235,551 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
3.5% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
-------------===================================================================
Page 2 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, is a beneficial owner
only of the securities reported by it on this cover
page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
WC
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 312,036 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
312,036 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
312,036 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.9% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
-------------===================================================================
Page 3 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, is a beneficial owner
only of the securities reported by it on this cover
page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
WC
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 264,048 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
264,048 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
264,048 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.8% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
-------------===================================================================
Page 4 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, is a beneficial owner
only of the securities reported by it on this cover
page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
WC, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
New York
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 50,500 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
50,500 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
50,500 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.1% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
-------------===================================================================
Page 5 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
RR Capital Partners, L.P.
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, is a beneficial owner
only of the securities reported by it on this cover
page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
N/A
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 28,790 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
28,790 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
28,790 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.1% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
-------------===================================================================
Page 6 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
SEC USE ONLY
3
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 640,964 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
640,964 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
640,964 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
1.8% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IA, OO
-------------===================================================================
Page 7 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,890,925 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
1,890,925 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,890,925 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.2% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
OO
-------------===================================================================
Page 8 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David I. Cohen
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY -0- [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
-0- [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
-0- [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 9 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Chun R. Ding
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 10 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Downes
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 11 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------===========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 12 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Charles E. Ellwein
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 13 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 14 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Monica R. Landry
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 15 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 16 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 17 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Rajiv A. Patel
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 18 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Derek C. Schrier
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 19 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 20 of 28 Pages
13D
===================
CUSIP No. G0450A105
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
-------------===================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing beneficially
own an aggregate of 2,531,889 Common Shares, which is
7.0% of the class of securities. The reporting person
on this cover page, however, may be deemed a
beneficial owner only of the securities reported by
it on this cover page. [See Preliminary Note]
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
-------------===================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
-------------===================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
-------------==========================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,531,889 [See Preliminary Note]
-------------==========================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH -------------==========================================
SHARED DISPOSITIVE POWER
10
2,531,889 [See Preliminary Note]
-------------===================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,531,889 [See Preliminary Note]
-------------===================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.0% [See Preliminary Note]
-------------===================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
-------------===================================================================
Page 21 of 28 Pages
This Amendment No. 3 to Schedule 13D (this "Amendment") amends the
Schedule 13D initially filed on April 12, 2002 (collectively, with all
amendments thereto, the "Schedule 13D").
Preliminary Note: The Reporting Persons are filing this Schedule 13D with
respect to the Common Shares, par value $0.01 per share (the "Common Shares"),
of Arch Capital Group Ltd. (the "Company"). Certain of the Reporting Persons
own, in aggregate, (i) 1,115,688 Common Shares and (ii) 1,416,201 Series A
Convertible Preference Shares (the "Preference A Shares") issued by the Company,
each Preference A Share immediately convertible into one Common Share. All
numbers and percentages contained in this Schedule 13D represent Common Shares
and not Preference A Shares (unless stated otherwise). For information regarding
the Preference A Shares, see the Company's Prospectus Supplement dated April 3,
2002 and the Schedule 13D filed by the Reporting Persons on April 12, 2002.
Effective as of January 1, 2005, each of Noonday G.P. (U.S.), L.L.C.
("NGPUS") and Noonday Asset Management, L.P. ("NAMLP") has entered into an
investment subadvisory agreement with the Management Company and the General
Partner, under which NGPUS and NAMLP are granted investment authority over
certain securities and instruments owned by the Partnerships and Managed
Accounts, including the Common Shares reported herein. Noonday Capital, L.L.C.
serves as the general partner of NAMLP. David I. Cohen serves as the managing
member of NGPUS and Noonday Capital, L.L.C. Mr. Cohen resigned as a managing
member of the Management Company and the General Partner effective December 31,
2004. This amendment to the Schedule 13D is being filed to report that Mr. Cohen
is no longer the deemed beneficial owner of any of the Common Shares reported
herein.
Page 22 of 28 Pages
Item 3. Source And Amount Of Funds And Other Consideration.
------ --------------------------------------------------
Item 3 of the Schedule 13D is amended and updated as the following:
The net investment cost (including commissions) for the Common Shares
acquired by each of the Partnerships and Managed Accounts since the filing of
the prior Schedule 13D is set forth below:
Entity Common Shares Acquired Approximate Net Investment Cost
------ ---------------------- -------------------------------
FCP 89,100 $3,378,140.04
FCIP II 9,200 $348,797.62
FCIP III 9,300 $352,620.67
Tinicum 4,100 $155,446.99
Managed
Accounts 216,164 $8,195,200.05
The consideration for such acquisitions was obtained as follows: (i)
with respect to FCIP II and FCIP III, from working capital; (ii) with respect to
FCP and Tinicum, from working capital, and/or from borrowings pursuant to margin
accounts maintained in the ordinary course of business by FCP and Tinicum at
Goldman, Sachs & Co.; and (iii) with respect to the Managed Accounts, from the
working capital of each Managed Account and/or from borrowings pursuant to
margin accounts maintained in the ordinary course of business by some of the
Managed Accounts at Goldman, Sachs & Co. FCP, Tinicum and some of the Managed
Accounts hold certain securities in their respective margin accounts at Goldman,
Sachs & Co., and the accounts may from time to time have debit balances. It is
not possible to determine the amount of borrowings, if any, used to acquire the
Common Shares.
Page 23 of 28 Pages
Item 5. Interest In Securities Of The Issuer.
------ ------------------------------------
Item 5 of the Schedule 13D is amended and restated in its entirety as
follows:
(a) The Partnerships
----------------
(a),(b) The information set forth in Rows 7 through 13 of the cover
page hereto for each Partnership is incorporated herein by
reference for each such Partnership. The percentage amount set
forth in Row 13 for all cover pages filed herewith (other than
the cover page filed by the Management Company) is calculated
based upon the sum of (i) the 34,744,241 Common Shares
outstanding as of November 5, 2004 as reported by the Company
in its Form 10-Q for the quarterly period ended September 30,
2004 and (ii) with respect to each Reporting Person, the
number of additional Common Shares such Reporting Person is
deemed to beneficially own through its beneficial ownership of
Preference A Shares.
(c) No transactions in the Common Shares have been consummated in
the past 60 days.
(d) The General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the
sale of the Common Shares and Preference A Shares. The
Individual Reporting Persons are managing members of the
General Partner.
(e) Not applicable.
(b) The Management Company
----------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for the Management Company is
incorporated herein by reference.
(c) No transactions in the Common Shares have been
consummated in the past 60 days.
(d) The Management Company, as an investment adviser, has
the power to direct the disposition of the proceeds
of the sale of the Common Shares and Preference A
Shares beneficially owned by the Managed Accounts.
The Individual Reporting Persons are managing members
of the Management Company.
(e) Not applicable.
(c) The General Partner
-------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for the General Partner is
incorporated herein by reference.
Page 24 of 28 Pages
(c) None.
(d) The General Partner has the power to direct the
affairs of the Partnerships, including the
disposition of the proceeds of the sale of the Common
Shares and Preference A Shares. The Individual
Reporting Persons are managing members of the General
Partner.
(e) Not applicable.
(d) The Individual Reporting Persons
--------------------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for each Individual Reporting
Person is incorporated herein by reference for each
such Individual Reporting Person.
(c) None.
(d) The General Partner has the power to direct the
affairs of the Partnerships, including the
disposition of the proceeds of the sale of the Common
Shares and Preference A Shares. The Management
Company, as an investment adviser, has the power to
direct the disposition of the proceeds of the sale of
the Common Shares and Preference A Shares
beneficially owned by the Managed Accounts. The
Individual Reporting Persons are managing members of
both the General Partner and the Management Company.
(e) As of December 31, 2004, David I. Cohen may no longer
be deemed to be a beneficial owner of the Common
Shares.
The Common Shares reported hereby for the Partnerships are owned
directly by the Partnerships and those reported by the Management Company on
behalf of the Managed Accounts are owned directly by the Managed Accounts. The
Preference A Shares in respect of which the Partnerships and the Managed
Accounts (as reported by the Management Company) are deemed to beneficially own
Common Shares are owned directly by the Partnerships and the Managed Accounts.
The General Partner, as general partner to the Partnerships, may be deemed to be
the beneficial owner of all such Common Shares beneficially owned by the
Partnerships. The Management Company, as investment adviser to the Managed
Accounts, may be deemed to be the beneficial owner of all such Common Shares
beneficially owned by the Managed Ac-
Page 25 of 28 Pages
counts. The Individual Reporting Persons other than Cohen, as managing members
of both the General Partner and the Management Company, may each be deemed to be
the beneficial owner of all such Common Shares beneficially owned by the
Partnerships and the Managed Accounts. Each of the Management Company, the
General Partner and the Individual Reporting Persons hereby disclaims any
beneficial ownership of any such Common Shares.
Page 26 of 28 Pages
SIGNATURES
----------
After reasonable inquiry and to the best of our knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 6, 2005
/s/ Monica R. Landry
----------------------------------------
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
TINICUM PARTNERS, L.P.,
And RR CAPITAL PARTNERS, L.P.,
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
Monica R. Landry, individually and as attorney-in-fact for
each of David I. Cohen, Chun R. Ding, Joseph F. Downes,
William F. Duhamel, Charles E. Ellwein, Richard B. Fried,
William F. Mellin, Stephen L. Millham, Rajiv A. Patel,
Derek C. Schrier, Thomas F. Steyer and Mark C. Wehrly.
The Powers of Attorney, each executed by David I. Cohen, Joseph F.
Downes, William F. Duhamel, Richard B. Fried, William F. Mellin, Stephen L.
Millham, Thomas F. Steyer and Mark C. Wehrly authorizing Monica R. Landry to
sign and file this Schedule 13D on each person's behalf, which were filed with
Amendment No. 2 to the Schedule 13D filed with the Securities and Exchange
Commission on July 16, 2003, by such Reporting Persons with respect to the
Common Stock of New World Restaurant Group, Inc., are hereby incorporated by
reference. The Powers of Attorney executed by each of Chun R. Ding and Derek C.
Schrier authorizing Monica R. Landry to sign and file this Schedule 13D on his
behalf, which was filed with Amendment No. 1 to the Schedule 13D filed with the
Securities and Exchange Commission on July 2, 2003, by such Reporting Person
with respect to the Common Stock of Salix Pharmaceuticals, Ltd., is hereby
incorporated by reference. The Powers of Attorney executed by each of Charles E.
Ellwein and Rajiv A. Patel authorizing Monica R. Landry to sign and file this
Schedule 13D on his behalf, which was filed with Amendment No. 4 to the Schedule
13G filed
Page 27 of 28 Pages
with the Securities and Exchange Commission on January 8, 2004 by such Reporting
Person with respect to the Common Stock of Catalytica Energy Systems, Inc., is
hereby incorporated by reference.
Page 28 of 28 Pages