<PAGE>
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
NAB Asset Corporation
(Name of Issuer)
Common Stock, par value $0.10 per share
(Title of Class of Securities)
628712200
(CUSIP Number)
March 26, 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)
Rule 13d-1(c)
Rule 13d-1(d)
(Continued on following pages)
Page 1 of 30 Pages
- --------
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. 628712200
===============================
- ---------======================================================================
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 94,458
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
94,458
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
94,458
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.9 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 86,996
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
86,996
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
86,996
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.7 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 22,618
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
22,618
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,618
- ---------======================================================================
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 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 30,402
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
30,402
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,402
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 16,375
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
16,375
- ----------------------=========================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,375
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 32,983
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
32,983
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,983
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IA, OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 250,849
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
250,849
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
250,849
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.9 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 250,849
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
250,849
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
250,849
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.9 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 19 of 30 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
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 283,832
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
283,832
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,832
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6 %
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 20 of 30 Pages
<PAGE>
Item 1. Issuer
(a) Name of Issuer:
NAB Asset Corporation
(b) Address of Issuer's Principal Executive Offices:
23361 Madero, Suite 200, Mission Viejo, CA 92691
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 $0.10 per share (the "Shares")
(e) 628712200
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 21 of 30 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. 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.
E. 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
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.
F. Farallon Capital Management, L.L.C. ("FCMLLC")
Page 22 of 30 Pages
<PAGE>
(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.
G. 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.
H. 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
(d)(e) The information set forth in (d) and (e) of Item 2(A)
above is incorporated herein.
I. 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
Page 23 of 30 Pages
<PAGE>
(c) South Africa
(d)(e) The information set forth in (d) and (e) of Item 2(A)
above is incorporated herein.
J. 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.
K. 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.
L. Fleur E. Fairman ("Fairman")
(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.
Page 24 of 30 Pages
<PAGE>
M. 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.
N. 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.
O. Richard B. Fried ("Fried")
(a) Richard B. Fried
(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. William F. Mellin ("Mellin")
(a) William F. Mellin
(b) c/o Farallon Capital Management, L.L.C.
Page 25 of 30 Pages
<PAGE>
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.
Q. 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.
R. 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
(d)(e) The information set forth in (d) and (e) of Item 2(A)
above is incorporated herein.
S. 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
Page 26 of 30 Pages
<PAGE>
(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) Tinicum is filing with respect to the Shares held by it; (v) FCCP
(collectively, with FCP, FCIP, FCIP II, and Tinicum, the "Partnerships") is
filing with respect to the Shares held by it; (vi) FCMLLC is filing with respect
to the Shares held by an account managed by FCMLLC (the "Managed Account"2);
(vii) FPLLC is filing with respect to the Shares held by each of the
Partnerships; (viii) 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 Account; and (ix) Fairman is
filing with respect to the Shares held by each of the Partnerships (FCP, FCIP,
FCIP II, Tinicum, FCCP, FCMLLC, FPLLC, Boilini, Cohen, Downes, Duhamel, Fairman,
Fish, Fremder, Fried, 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 Account are
owned directly by the Managed Account. Each of Boilini, Cohen, Downes, Duhamel,
Fish, Fremder, Fried, Mellin, Millham, Moore and Steyer may be deemed, as
managing members of FPLLC and FCMLLC, to be the beneficial owner of all such
Shares. Each of FPLLC and Fairman, as a managing member of FPLLC, may be deemed
to be the beneficial owner of all such Shares owned by the Partnerships. FCMLLC
may be deemed to be the beneficial owner of all such Shares owned by the Managed
Account. 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);
Page 27 of 30 Pages
- --------
2 The name and address of the Managed Account is The Absolute Return Fund of
The Common Fund, a non-profit corporation whose principal address is 450 Post
Road East, Westport, Connecticut 06881.
<PAGE>
(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:
(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:
Page 28 of 30 Pages
<PAGE>
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 Account are
owned directly by the Managed Account. Each of Boilini, Cohen, Downes, Duhamel,
Fish, Fremder, Fried, Mellin, Millham, Moore and Steyer may be deemed, as
managing members of FPLLC and FCMLLC, to be the beneficial owner of all such
Shares. Each of FPLLC and Fairman, as a managing member of FPLLC, may be deemed
to be the beneficial owner of all such Shares owned by the Partnerships. FCMLLC
may be deemed to be the beneficial owner of all such Shares owned by the Managed
Account. 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
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 29 of 30 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: March 26, 1999
/s/ Thomas F. Steyer
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.,
TINICUM PARTNERS, L.P.
and FARALLON CAPITAL (CP) INVESTORS, L.P.
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
FARALLON CAPITAL MANAGEMENT, L.L.C.
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
Thomas F. Steyer, individually and as attorney-in-fact
for each of Enrique H. Boilini, David I. Cohen,
Joseph F. Downes, William F. Duhamel,
Fleur E. Fairman, Jason M. Fish, Andrew B. Fremder,
Richard B. Fried, William F. Mellin, Stephen L. Millham,
and Meridee A. Moore.
The Powers of Attorney executed by Boilini, Cohen, Downes, Duhamel,
Fairman, Fish, Fremder, Fried, Mellin, Millham and Moore authorizing Steyer to
sign and file this Schedule 13G on each person's behalf, which were filed with
Amendment No. 1 to the Schedule 13D filed with the Securities and Exchange
Commission on September 26, 1997, by such Reporting Persons with respect to the
Common Stock of Sphere Drake Holdings Limited, are hereby incorporated by
reference. The Powers of Attorney executed by Duhamel and Fried authorizing
Steyer to sign and file this Schedule 13G on each person's behalf, which were
filed with Amendment No. 1 to the Schedule 13D filed with the Securities and
Exchange Commission on January 13, 1999, by such Reporting Persons with respect
to the Callable Class A Common Shares of CliniChem Development Inc., are hereby
incorporated by reference.
Page 30 of 30 Pages
