UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
ESG Re Limited
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(Name of Issuer)
Common Shares, $1.00 par value
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(Title of Class of Securities)
G31215109
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(CUSIP Number)
November 10, 1999
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(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)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
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CUSIP No. G31215109 13G
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Vicuna Advisors LLC
TIN: 13-4006560
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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- ---------------------------------- ---------- ----------------------------------
5 SOLE VOTING POWER
-0-
NUMBER OF
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SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,080,000 shares
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
---------- ----------------------------------
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WITH 8 SHARED DISPOSITIVE POWER
1,080,000 shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,080,000 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.2 %
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12 TYPE OF REPORTING PERSON*
OO
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<PAGE>
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CUSIP No. G31215109 13G
---------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Vicuna Partners LLC
TIN: 13-4006612
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
-0-
NUMBER OF
---------- ----------------------------------
---------- ----------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,080,000 shares
---------- ----------------------------------
---------- ----------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
---------- ----------------------------------
---------- ----------------------------------
WITH 8 SHARED DISPOSITIVE POWER
1,080,000 shares
- ---------------------------------- ---------- ----------------------------------
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,080,000 shares
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- ------------- ------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.2 %
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12 TYPE OF REPORTING PERSON*
OO
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<PAGE>
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CUSIP No. G31215109 13G
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Vicuna Capital I L.P.
TIN: 13-4006625
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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- ---------------------------------- ---------- ----------------------------------
5 SOLE VOTING POWER
-0-
NUMBER OF
---------- ----------------------------------
---------- ----------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 800,000 shares
---------- ----------------------------------
---------- ----------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
---------- ----------------------------------
---------- ----------------------------------
WITH 8 SHARED DISPOSITIVE POWER
800,000 shares
- ---------------------------------- ---------- ----------------------------------
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
800,000 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.0 %
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12 TYPE OF REPORTING PERSON*
PN
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<PAGE>
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CUSIP No. G31215109 13G
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
WNP Investment Partnership L.P.
TIN: 13-4006626
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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- ---------------------------------- ---------- ----------------------------------
5 SOLE VOTING POWER
-0-
NUMBER OF
---------- ----------------------------------
---------- ----------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 280,000 shares
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
---------- ----------------------------------
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WITH 8 SHARED DISPOSITIVE POWER
280,000 shares
- ---------------------------------- ---------- ----------------------------------
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
280,000 shares
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.1 %
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- ------------- ------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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<PAGE>
Item 1.
(a) Name of Issuer
ESG Re Limited (the "Issuer")
(b) Address of Issuer's Principal Executive Offices
16 Church Street
Hamilton HM II, Bermuda
Item 2.
(a) Name of Persons Filing
This Schedule 13G is being filed jointly by Vicuna Advisors
LLC, a Delaware limited liability company ("Advisors"),
Vicuna Partners LLC, a Delaware limited liability company
("Partners"), Vicuna Capital I L.P., a Delaware liability
partnership ("Capital") and WNP Investment Partnership,
L.P., a Delaware limited partnership ("WNP").
Partners is the general partner of Capital and WNP and
Advisors is the investment adviser to Capital and WNP.
The filing of this statement is not an admission by any
Reporting Person that such Reporting Person and any other
Reporting Person or Reporting Persons constitute a "group"
for purposes of Section 13(d)(3) of the Securities Exchange
Act of 1934, as amended, or Rule 13d-5 thereunder or that
any Reporting Person is the beneficial owner of any
securities owned by any other Reporting Person.
(b) Address of Principal Business Office or, if none, Residence
The address of Advisors, Partners, Capital and WNP is:
c/o Kenneth F. Cooper
230 Park Avenue
7th Floor
New York, NY 10169
(c) Citizenship
Advisors and Partners are Delaware limited liability
companies and Capital and WNP are Delaware limited
partnerships.
(d) Title of Class of Securities
Common Shares, $1.00 par value (the "Common Stock")
(e) CUSIP Number
G31215109
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<PAGE>
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 Act,
(b) |_| Bank as defined in section 3(a)(6) of the Act,
(c) |_| Insurance company as defined in section 3(a)(19) of the
Act,
(d) |_| Investment company registered under section 8 of the
Investment Company Act of 1940,
(e) |_| Investment Adviser registered under section 203 of the
Investment Advisors Act of 1940,
(f) |_| An employee benefit plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see ss.240.13d-1(b)(1)(ii)(F),
(g) |_| A parent holding company, in accordance with
ss.240.13d-1(b)(ii)(G) (Note: See Item 7),
(h) |_| A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) |_| A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to ss. 240.13d-1(c), check
this box |X|.
Item 4. Ownership
(a) Amount Beneficially Owned
As of the date hereof, Capital is the beneficial owner of
800,000 shares of Common Stock and WNP is the beneficial
owner of 280,000 shares of Common Stock. By virtue of its
status as general partner of Capital and WNP, Partners might
be deemed to be the beneficial owner of the securities owned
by Capital and WNP. By virtue of its status as investment
adviser to Capital and WNP, Advisors might be deemed to be
the beneficial owner of the securities owned by Capital and
WNP. Advisors and Partners each disclaims beneficial
ownership of the securities owned by Capital and WNP.
(b) Percent of Class
As of the date hereof, Capital is the beneficial owner of
6.0% of the Common Stock and WNP is the beneficial owner of
2.1% of the Common Stock. By virtue of its status as general
partner of Capital and WNP, Partners might be deemed to be
the beneficial owner of the securities owned by Capital and
WNP.
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<PAGE>
By virtue of its status as investment adviser to Capital and
WNP, Advisors might be deemed to be the beneficial owner of
the securities owned by Capital and WNP. Advisors and
Partners each disclaims beneficial ownership of the
securities owned by Capital and WNP. The percentages of the
outstanding Common Stock reported in this Schedule 13G are
calculated on the basis of 13,228,399 shares of Common Stock
issued and outstanding as of November 15, 1999, as reported
in the Issuer's Form 10-Q for the quarter ended September
30, 1999.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote
None.
(ii) Shared power to vote or to direct the vote
By virtue of its status as general partner of Capital
and WNP, Partners might be deemed to share indirectly
with Capital and WNP power to vote or direct the vote
of the 800,000 shares of Common Stock owned by
Capital and the 280,000 shares of Common Stock owned
by WNP. By virtue of its status as investment adviser
to Capital and WNP, Advisors might be deemed to share
indirectly with Capital and WNP power to vote or
direct the vote of the 800,000 shares of Common Stock
owned by Capital and the 280,000 shares of Common
Stock owned by WNP.
(iii) Sole power to dispose or to direct the disposition of
None.
(iv) Shared power to dispose or to direct the disposition
of
By virtue of its status as general partner of Capital
and WNP, Partners might be deemed to share indirectly
with Capital and WNP power to dispose or direct the
disposition of the 800,000 shares of Common Stock
owned by Capital and the 280,000 shares of Common
Stock owned by WNP. By virtue of its status as
investment adviser to Capital and WNP, Advisors might
be deemed to share indirectly with Capital and WNP
power to dispose or direct the disposition of the
800,000 shares of Common Stock owned by Capital and
the 280,000 shares of Common Stock owned by WNP.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
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<PAGE>
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
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 such securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
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<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: November 22, 1999
VICUNA ADVISORS LLC
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
VICUNA PARTNERS LLC
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
VICUNA CAPITAL I, L.P
By: Vicuna Partners LLC, General
Partner
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
WNP INVESTMENT PARTNERSHIP, L.P
By: Vicuna Partners LLC, General
Partner
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
10
<PAGE>
EXHIBIT
AGREEMENT
In accordance with Rule 13d-1(k)(1) under the Securities
Exchange Act of 1934, as amended, the undersigned hereby agree that the Schedule
13G dated November 22, 1999 relating to the Common Shares, 1.00 par value, of
ESG RE Limited, as the same may be amended from time to time hereafter, is being
filed with the Securities and Exchange Commission on behalf of each of them.
Dated: November 22, 1999
VICUNA ADVISORS LLC
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
VICUNA PARTNERS LLC
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
VICUNA CAPITAL I, L.P
By: Vicuna Partners LLC, General
Partner
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
WNP INVESTMENT PARTNERSHIP, L.P
By: Vicuna Partners LLC, General
Partner
By:/s/ Joshua G. Welch
--------------------------------
Joshua G. Welch
Managing Member
11
