FARALLON CAPITAL MANAGEMENT LLC /ADV
SC 13G, 1999-07-01
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<PAGE>


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                                                       OMB APPROVAL
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                                                   OMB Number: 3235-0145
                                                   Expires: Aug. 31, 1999
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                                                   hours per response. . . 14.90
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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
               TO RULES 13d-1(b) (c), AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)
                          (Amendment No. ___________)1

                          Chastain Capital Corporation
                                (Name of Issuer)

                          Common Stock, par value $0.01
                         (Title of Class of Securities)

                                    161697107
                                 (CUSIP Number)

                                  June 22, 1999
             (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)
        X  Rule 13d-1(c)
           Rule 13d-1(d)


- ---------------------------
     1 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 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).


<PAGE>

                                      13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Partners, 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

         California
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           97,700
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      97,700
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         97,700
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         1.3%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 2 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Institutional Partners, 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

         California
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           72,000
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      72,000
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         72,000
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         1.0%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 3 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Institutional Partners II, 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

         California
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           27,400
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      27,400
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         27,400
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.4%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 4 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Institutional Partners III, 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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           48,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      48,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         48,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.7%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 5 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Tinicum Partners, 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

         New York
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           7,300
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      7,300
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         7,300
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         0.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 6 of 32 Pages
<PAGE>


                                      13G
===============================
CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital (CP) Investors, 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

         Cayman Islands
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           4,600
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      4,600
- ----------------------=========================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         4,600
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

         0.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         PN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 7 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Capital Management, L.L.C.
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           190,000
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      190,000
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         190,000
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         2.6%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IA, OO
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 8 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Farallon Partners, L.L.C.
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           257,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      257,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         257,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         3.5%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         OO
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 9 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Enrique H. Boilini
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                       (a) [   ]

                                                                       (b) [ X ]
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         Argentina
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 10 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         David I. Cohen
- ---------======================================================================
   2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                       (a) [   ]

                                                                       (b) [ X ]
- ---------======================================================================
   3     SEC USE ONLY

- ---------======================================================================
   4     CITIZENSHIP OR PLACE OF ORGANIZATION

         South Africa
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 11 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Joseph F. Downes
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 12 of 32 Pages
<PAGE>

                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         William F. Duhamel
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 13 of 32 Pages

<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Fleur E. Fairman
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           257,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      257,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         257,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         3.5%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 14 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Jason M. Fish
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 15 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Andrew B. Fremder
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 16 of 32 Pages

<PAGE>


                                      13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Richard B. Fried
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 17 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         William F. Mellin
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 18 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Stephen L. Millham
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 19 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Meridee A. Moore
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                              Page 20 of 32 Pages
<PAGE>


                                       13G
===============================
 CUSIP No. 161697107
===============================

- ---------======================================================================
   1     NAMES OF REPORTING PERSONS
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

         Thomas F. Steyer
- ---------======================================================================
   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
- ----------------------=========================================================
   NUMBER OF      5   SOLE VOTING POWER

    SHARES            -0-
                ------=========================================================
 BENEFICIALLY     6   SHARED VOTING POWER

   OWNED BY           447,800
                ------=========================================================
     EACH         7   SOLE DISPOSITIVE POWER

   REPORTING          -0-
                ------=========================================================
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                      447,800
- ---------======================================================================
   9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         447,800
- ---------======================================================================
   10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*                                                   [   ]

- ---------======================================================================
   11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         6.1%
- ---------======================================================================
   12    TYPE OF REPORTING PERSON*

         IN
- ---------======================================================================
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 21 of 32 Pages
<PAGE>


Item 1. Issuer

      (a)   Name of Issuer:
            Chastain Capital Corporation

      (b)   Address of Issuer's Principal Executive Offices:
            3424 Peachtree Road N.E., Suite 800, Atlanta, Georgia  30326

Item 2. Identity and Background.

     A. Farallon Capital Partners, L.P. ("FCP")

          (a) Farallon Capital Partners, L.P.

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) California

          (d) Common Stock, par value $0.01 (the "Shares")

          (e) CUSIP No. 161697107

     B. Farallon Capital Institutional Partners, L.P. ("FCIP")

          (a) Farallon Capital Institutional Partners, L.P.

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) California

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     C. Farallon Capital Institutional Partners II, L.P. ("FCIP II")

          (a) Farallon Capital Institutional Partners II, L.P.


                              Page 22 of 32 Pages
<PAGE>

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) California

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     D. Farallon Capital Institutional Partners III, L.P. ("FCIP III")

          (a) Farallon Capital Institutional Partners III, L.P.

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) Delaware

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     E. Tinicum Partners, L.P. ("TINICUM")

          (a) Tinicum Partners, L.P.

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) New York

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     F. Farallon Capital (CP) Investors, L.P. ("FCCP")

          (a) Farallon Capital (CP) Investors, L.P.

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111
              and

                              Page 23 of 32 Pages
<PAGE>

              c/o W.S. Walker & Company
              P.O. Box 265GT
              Walker House
              Grand Cayman
              Cayman Islands

          (c) Cayman Islands

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     G. Farallon Capital Management, L.L.C. ("FCMLLC")

          (a) Farallon Capital Management, L.L.C.

          (b) One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) Delaware

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     H. Farallon Partners, L.L.C. ("FPLLC")

          (a) Farallon Partners, L.L.C.

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) Delaware

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     I. Enrique H. Boilini ("Boilini")

          (a) Enrique H. Boilini

          (b) c/o Farallon Capital Management, L.L.C.
              75 Holly Hill Lane
              Greenwich, CT  06830

          (c) Argentina

                              Page 24 of 32 Pages
<PAGE>

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     J. David I. Cohen ("Cohen")

          (a) David I. Cohen

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) South Africa

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     K. Joseph F. Downes ("Downes")

          (a) Joseph F. Downes

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     L. William F. Duhamel ("Duhamel")

          (a) William F. Duhamel

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     M. Fleur E. Fairman ("Fairman")

                              Page 25 of 32 Pages
<PAGE>

          (a) Fleur E. Fairman

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     N. Jason M. Fish ("Fish")

          (a) Jason M. Fish

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     O. Andrew B. Fremder ("Fremder")

          (a) Andrew B. Fremder

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     P. Richard B. Fried ("Fried")

          (a) Richard B. Fried

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325

                              Page 26 of 32 Pages
<PAGE>

              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     Q. William F. Mellin ("Mellin")

          (a) William F. Mellin

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     R. Stephen L. Millham ("Millham")

          (a) Stephen L. Millham

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     S. Meridee A. Moore ("Moore")

          (a) Meridee A. Moore

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

                              Page 27 of 32 Pages
<PAGE>

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     T. Thomas F. Steyer ("Steyer")

          (a) Thomas F. Steyer

          (b) c/o Farallon Capital Management, L.L.C.
              One Maritime Plaza
              Suite 1325
              San Francisco, CA  94111

          (c) United States

          (d)(e) The  information set forth in (d) and (e) of Item 2(A) above
                 is incorporated herein.

     With  respect to the persons or entities  listed  above:  (i) FCP is filing
with  respect to the Shares held by it; (ii) FCIP is filing with  respect to the
Shares held by it;  (iii) FCIP II is filing  with  respect to the Shares held by
it; (iv) FCIP III is filing  with  respect to the Shares held by it; (v) Tinicum
is filing with respect to the Shares held by it; (vi) FCCP  (collectively,  with
FCP, FCIP, FCIP II, FCIP III,  Tinicum and FCCP, the  "Partnerships")  is filing
with  respect to the Shares held by it;  (vii)  FCMLLC is filing with respect to
the Shares held by Farallon Capital Offshore  Investors,  Inc., a British Virgin
Islands corporation  ("Offshore"),  and certain other accounts managed by FCMLLC
(together with Offshore,  the "Managed Accounts"1);  (viii) FPLLC is filing with
respect to the Shares  held by each of the  Partnerships;  (ix) each of Boilini,
Cohen, Downes, Duhamel, Fish, Fremder, Fried, Mellin , Millham, Moore and Steyer
is filing with  respect to the Shares held by each of the  Partnerships  and the
Managed  Accounts;  and (x) Fairman is filing with respect to the Shares held by
each of the Partnerships  (FCP, FCIP, FCIP II, FCIP III, Tinicum,  FCCP, FCMLLC,
FPLLC, Boilini,  Cohen, Downes,  Fairman, Fish, Fremder,  Mellin, Millham, Moore
and Steyer  shall  collectively  be  referred  to  hereafter  as the  "Reporting
Persons").

     The Shares reported hereby for the  Partnerships  are owned directly by the
Partnerships  and those reported by FCMLLC on behalf of the Managed Accounts are
owned  directly  by the  Managed  Accounts.  FPLLC,  as  general  partner of the
Partnerships,  may be deemed to be the beneficial owner of all such Shares owned
by the Partnerships.  FCMLLC, as investment advisor to the Managed Accounts, may
be deemed to be the  beneficial  owner of all such  Shares  owned by the Managed
Accounts. Each of Boilini, Cohen, Downes, Duhamel, Fish, Fremder, Fried, Mellin,
Millham,  Moore and  Steyer may be  deemed,  as a  managing  member of FPLLC and
FCMLLC,  to be the beneficial owner of all such Shares.  Fairman,  as a managing
member of FPLLC,  may be deemed to be the  beneficial  owner of all such  Shares
owned by the Partnerships.


- -------------------------
     2 Of the Shares reported by FCMLLC on behalf of the Managed Accounts, 2,200
Shares (equal to approximately 0.03% of the total Shares currently  outstanding)
are  held  by  The  Absolute  Return  Fund  of The  Common  Fund,  a  non-profit
corporation whose principal address is 450 Post Road East, Westport, Connecticut
06881.


                              Page 28 of 32 Pages
<PAGE>

Each of FCMLLC, FPLLC, Boilini, Cohen, Downes, Duhamel,  Fairman, Fish, Fremder,
Fried,  Mellin,  Millham,  Moore and  Steyer  hereby  disclaims  any  beneficial
ownership of any such Shares.

Item 3. If this  statement is filed  pursuant to Rule  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
                  Exchange Act.

      (b)    [ ] Bank as defined in Section 3(a)(6) of the Exchange Act.

      (c)    [ ]  Insurance  Company as defined in Section  3(a)(19) of the
                  Exchange Act.

      (d)    [ ]  Investment  Company  registered  under  Section  8 of the
                  Investment Company Act.

      (e)    [ ]  An   Investment   Adviser   in   accordance   with  Rule
                  13d-1(b)(1)(ii)(E);

      (f)    [ ]  An Employee  Benefit Plan or Endowment  Fund in accordance
                  with Rule 13d-1(b)(ii)(F);

      (g)    [ ]  A Parent  Holding  Company or Control Person in accordance
                  with Rule 13d-1(b)(ii)(G);

      (h)    [ ]  A Savings  Association  as defined in Section  3(b) of the
                  Federal Deposit Insurance Act;

      (i)    [ ]  A church plan that is excluded  from the  definition of an
                  Investment  Company under Section  3(c)(14) of the  Investment
                  Company Act;

      (j)    [ ]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

      If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]

Item 4. Ownership

      (a)   Amount Beneficially Owned:

            The  information  set forth in Row (9) of the cover page  hereto for
            each Reporting  Person is incorporated  herein by reference for each
            such Reporting Person.

      (b)   Percent of Class:

            The  information  set forth in Row (11) of the cover page hereto for
            each Reporting  Person is incorporated  herein by reference for each
            such Reporting Person.

      (c)   Number of shares as to which such person has:

                              Page 29 of 32 Pages
<PAGE>

            (i)   sole power to vote or to direct the vote:

                  The  information set forth in Row (5) of the cover page hereto
                  for each Reporting Person is incorporated  herein by reference
                  for each such Reporting Person.

            (ii)  shared power to vote or to direct the vote:

                  The  information set forth in Row (6) of the cover page hereto
                  for each Reporting Person is incorporated  herein by reference
                  for each such Reporting Person.

            (iii) sole power to dispose or to direct the disposition of:

                  The  information set forth in Row (7) of the cover page hereto
                  for each Reporting Person is incorporated  herein by reference
                  for each such Reporting Person.

            (iv) shared power to dispose or to direct the disposition of:

                  The  information  set forth in Row 8 of the cover page  hereto
                  for each Reporting Person is incorporated  herein by reference
                  for each such Reporting Person.

     The Shares reported hereby for the  Partnerships  are owned directly by the
Partnerships  and those reported by FCMLLC on behalf of the Managed Accounts are
owned  directly  by the  Managed  Accounts.  FPLLC,  as  general  partner of the
Partnerships,  may be deemed to be the beneficial owner of all such Shares owned
by the Partnerships.  FCMLLC, as investment advisor to the Managed Accounts, may
be deemed to be the  beneficial  owner of all such  Shares  owned by the Managed
Accounts. Each of Boilini, Cohen, Downes, Duhamel, Fish, Fremder, Fried, Mellin,
Millham,  Moore and  Steyer may be  deemed,  as a  managing  member of FPLLC and
FCMLLC,  to be the beneficial owner of all such Shares.  Fairman,  as a managing
member of FPLLC,  may be deemed to be the  beneficial  owner of all such  Shares
owned by the  Partnerships.  Each of  FCMLLC,  FPLLC,  Boilini,  Cohen,  Downes,
Duhamel, Fairman, Fish, Fremder, Fried, Mellin, Millham, Moore and Steyer hereby
disclaims any beneficial ownership of any such Shares.

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

                              Page 30 of 32 Pages
<PAGE>

          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

          By  signing  below I certify  that,  to the best of my  knowledge  and
     belief, the securities referred to above were not acquired and are not held
     for the  purpose  of or with the  effect of  changing  or  influencing  the
     control of the issuer of the  securities  and were not acquired and are not
     held in connection with or as a participant in any transaction  having that
     purpose or effect.









                              Page 31 of 32 Pages
<PAGE>


                                   SIGNATURES

     After reasonable  inquiry and to the best of our knowledge and belief,  the
undersigned  certify that the  information  set forth in this statement is true,
complete and correct.

Dated: July 1, 1999

                        /s/ David I. Cohen
                        ----------------------------------------
                        FARALLON PARTNERS, L.L.C.,
                        on its own behalf and as General Partner of
                        FARALLON CAPITAL PARTNERS, L.P.,
                        FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
                        FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
                        FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
                        TINICUM PARTNERS, L.P.
                        and FARALLON CAPITAL (CP) INVESTORS, L.P.
                        by David I. Cohen,
                        Managing Member

                        /s/ David I. Cohen
                        ----------------------------------------
                        FARALLON CAPITAL MANAGEMENT, L.L.C.,
                        by David I. Cohen,
                        Managing Member

                        /s/ David I. Cohen
                        ----------------------------------------
                        David I. Cohen, individually and as
                        attorney-in-fact for each of Enrique H. Boilini,
                        Joseph F. Downes, William F. Duhamel,
                        Fleur E. Fairman, Jason M. Fish, Andrew B.
                        Fremder, Richard B. Fried, William F. Mellin, Stephen L.
                        Millham, Meridee A. Moore and Thomas F. Steyer.


     The Powers of Attorney,  each executed by Boilini,  Downes,  Fairman, Fish,
Fremder,  Mellin,  Millham,  Moore and Steyer authorizing Cohen to sign and file
this Schedule 13G on each person's behalf, which were filed with Amendment No. 5
to the  Schedule  13D filed  with the  Securities  and  Exchange  Commission  on
February 2, 1998, by such Reporting  Persons with respect to the Units of Axogen
Limited,  are hereby  incorporated  by reference.  The Powers of Attorney,  each
executed by Duhamel and Fried  authorizing  Cohen to sign and file this Schedule
13G on each  person's  behalf,  which  were filed  with  Amendment  No. 2 to the
Schedule 13D filed with the Securities  and Exchange  Commission on February 22,
1999 by such  Reporting  Persons  with  respect  to the  Common  Stock of SEQUUS
Pharmaceuticals, Inc., are hereby incorporated by reference.



                              Page 32 of 32 Pages



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