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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Schuler Homes, Inc.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
808188106
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(CUSIP Number)
September 3, 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)
Page 1 of 16 pages
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CUSIP No. 808188106 13G
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1. Name of Reporting Person
I.R.S. Identification No. of above Person
Goldman Sachs Asset Management, a separate operating division of
Goldman, Sachs & Co.
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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
New York
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5. Sole Voting Power
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
1,200,000
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
1,200,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,200,000
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10. Check 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
IA
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Page 2 of 16 pages
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CUSIP No. 808188106 13G
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1. Name of Reporting Person
I.R.S. Identification No. of above Person
Goldman Sachs 1999 Exchange Place Fund, L.P.
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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
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
400,000
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
400,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
400,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
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11. Percent of Class Represented by Amount in Row (9)
2.0%
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12. Type of Reporting Person
PN
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Page 3 of 16 pages
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CUSIP No. 808188106 13G
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1. Name of Reporting Person
I.R.S. Identification No. of above Person
Goldman Sachs 1998 Exchange Place Fund, L.P.
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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
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
400,000
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
400,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
400,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
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11. Percent of Class Represented by Amount in Row (9)
2.0%
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12. Type of Reporting Person
PN
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Page 4 of 16 pages
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CUSIP No. 808188106 13G
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1. Name of Reporting Person
I.R.S. Identification No. of above Person
Goldman Sachs 1997 Exchange Place Fund, L.P.
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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
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
400,000
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
400,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
400,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
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11. Percent of Class Represented by Amount in Row (9)
2.0%
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12. Type of Reporting Person
PN
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Page 5 of 16 pages
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CUSIP No. 808188106 13G
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1. Name of Reporting Person
I.R.S. Identification No. of above Person
Goldman Sachs Management Partners, L.P.
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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
Number of 0
Shares ----------------------------------------------------------
6. Shared Voting Power
Beneficially
1,200,000
Owned by
----------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person ----------------------------------------------------------
8. Shared Dispositive Power
With:
1,200,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,200,000
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10. Check 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 6 of 16 pages
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Item 1(a). Name of Issuer:
Schuler Homes, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
828 Fort Street Mall, Suite 400
Honolulu, Hawaii 96813-4321
Item 2(a). Name of Persons Filing:
Goldman Sachs Asset Management,
Goldman Sachs 1999 Exchange Place Fund, L.P.,
Goldman Sachs 1998 Exchange Place Fund, L.P.,
Goldman Sachs 1997 Exchange Place Fund, L.P. and
Goldman Sachs Management Partners, L.P.
Item 2(b). Address of Principal Business Office or, if none, Residence:
Goldman Sachs 1999 Exchange Place Fund, L.P.,
Goldman Sachs 1998 Exchange Place Fund, L.P.,
Goldman Sachs 1997 Exchange Place Fund, L.P. and
Goldman Sachs Management Partners, L.P.
85 Broad Street
New York, NY 10004
Goldman Sachs Asset Management
1 New York Plaza
New York, NY 10004
Item 2(c). Citizenship:
Goldman Sachs Asset Management - New York
Goldman Sachs 1999 Exchange Place Fund, L.P.- Delaware
Goldman Sachs 1998 Exchange Place Fund, L.P.- Delaware
Goldman Sachs 1997 Exchange Place Fund, L.P.- Delaware
Goldman Sachs Management Partners, L.P. - Delaware
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 par value
Item 2(e). CUSIP Number:
808188106
Item 3. Not applicable. This Schedule 13G was filed pursuant to Rule
13d-1(c).
Item 4. Ownership.*
(a). Amount beneficially owned:
See the response(s) to Item 9 on the attached cover page(s).
(b). Percent of Class:
See the response(s) to Item 11 on the attached cover page(s).
(c). Number of shares as to which such person has:
(i). Sole power to vote or to direct the vote: See the
response(s) to Item 5 on the attached cover page(s).
(ii). Shared power to vote or to direct the vote: See the
response(s) to Item 6 on the attached cover page(s).
(iii). Sole power to dispose or to direct the disposition
of: See the response(s) to Item 7 on the attached
cover page(s).
(iv). Shared power to dispose or to direct the disposition
of: See the response(s) to Item 8 on the attached
cover page(s).
Page 7 of 16 pages
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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.
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* In accordance with Securities and Exchange Commission ("SEC") Release No.
34-39538 (January 12, 1998), this filing reflects the securities beneficially
owned by the asset management division of Goldman, Sachs & Co. (the "Asset
Management Division"). This filing does not reflect securities, if any,
beneficially owned by any other division of Goldman, Sachs & Co. The Asset
Management Division disclaims beneficial ownership of the securities
beneficially owned by (i) any client accounts with respect to which it or its
employees have voting or investment discretion, or both, and (ii) certain
investment entities, of which its affiliate is the general partner, managing
general partner or other manager, to the extent interests in such entities are
held by persons other than the Asset Management Division.
Page 8 of 16 pages
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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.
Date: September 13, 1999
GOLDMAN, SACHS & CO. on behalf of
Goldman Sachs Asset Management
By: /s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS 1999 EXCHANGE PLACE FUND, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS 1998 EXCHANGE PLACE FUND, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS 1997 EXCHANGE PLACE FUND, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS MANAGEMENT PARTNERS, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
Page 9 of 16 pages
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INDEX TO EXHIBITS
Exhibit No. Exhibit
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99.1 Joint Filing Agreement, dated September 13, 1999, between Goldman
Sachs Asset Management, Goldman Sachs 1999 Exchange Place Fund,
L.P., Goldman Sachs 1998 Exchange Place Fund, L.P., Goldman Sachs
1997 Exchange Place Fund, L.P. and Goldman Sachs Management
Partners, L.P.
99.2 Power of Attorney, dated December 21, 1998, relating to Goldman,
Sachs & Co.
99.3 Power of Attorney, dated September 9, 1999, relating to Goldman
Sachs 1999 Exchange Place Fund, L.P.
99.4 Power of Attorney, dated September 9, 1999, relating to Goldman
Sachs 1998 Exchange Place Fund, L.P.
99.5 Power of Attorney, dated September 9, 1999, relating to Goldman
Sachs 1997 Exchange Place Fund, L.P.
99.6 Power of Attorney, dated September 9, 1999, relating to Goldman
Sachs Management Partners, L.P.
Page 10 of 16 pages
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EXHIBIT (99.1)
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) promulgated under the Securities
Exchange Act of 1934, the undersigned agree to the joint filing of a Statement
on Schedule 13G (including any and all amendments thereto) with respect to the
Common Stock, $0.01 par value, of Schuler Homes, Inc., and further agree to the
filing of this agreement as an Exhibit thereto. In addition, each party to this
Agreement expressly authorizes each other party to this Agreement to file on its
behalf any and all amendments to such Statement on Schedule 13G.
Date: September 13, 1999
GOLDMAN, SACHS & CO. on behalf of
Goldman Sachs Asset Management
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS 1999 EXCHANGE PLACE FUND, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS 1998 EXCHANGE PLACE FUND, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS 1997 EXCHANGE PLACE FUND, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS MANAGEMENT PARTNERS, L.P.
By: /s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
Page 11 of 16 pages
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EXHIBIT (99.2)
POWER OF ATTORNEY
This power of attorney will expire on December 31, 2000.
KNOW ALL PERSONS BY THESE PRESENTS that GOLDMAN, SACHS & CO. (the
"Company") does hereby make, constitute and appoint each of Hans L. Reich and
Roger S. Begelman, acting individually, its true and lawful attorney, to execute
and deliver in its name and on its behalf whether the Company is acting
individually or as representative of others, any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of December 21, 1998.
GOLDMAN, SACHS & CO.
By: The Goldman, Sachs & Co. L.L.C.
By:/s/ Robert J. Katz
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Name: Robert J. Katz
Title: Executive Vice President
Page 12 of 16 pages
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EXHIBIT (99.3)
POWER OF ATTORNEY
This power of attorney will expire on September 30, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GOLDMAN SACHS 1999 EXCHANGE PLACE
FUND, L.P. (the "Fund") does hereby make, constitute and appoint each of Hans L.
Reich and Roger S. Begelman, acting individually, its true and lawful attorney,
to execute and deliver in its name and on its behalf whether the Fund is acting
individually or as representative of others, any and all filings required to be
made by the Fund under the Securities Exchange Act of 1934, as amended, giving
and granting unto each said attorney-in-fact power and authority to act in the
premises as fully and to all intents and purposes as the Fund might or could do
if personally present by one of its authorized signatories, hereby ratifying and
confirming all that said attorney-in-fact shall lawfully do or cause to be done
by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of September 9, 1999.
GOLDMAN SACHS 1999 EXCHANGE PLACE FUND, L.P.
By: Goldman Sachs Management Partners, L.P.
By: Goldman Sachs Management, Inc.
By:/s/ David B. Ford
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Name: David B. Ford
Title: Director
Page 13 of 16 pages
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EXHIBIT (99.4)
POWER OF ATTORNEY
This power of attorney will expire on September 30, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GOLDMAN SACHS 1998 EXCHANGE PLACE
FUND, L.P. (the "Fund") does hereby make, constitute and appoint each of Hans L.
Reich and Roger S. Begelman, acting individually, its true and lawful attorney,
to execute and deliver in its name and on its behalf whether the Fund is acting
individually or as representative of others, any and all filings required to be
made by the Fund under the Securities Exchange Act of 1934, as amended, giving
and granting unto each said attorney-in-fact power and authority to act in the
premises as fully and to all intents and purposes as the Fund might or could do
if personally present by one of its authorized signatories, hereby ratifying and
confirming all that said attorney-in-fact shall lawfully do or cause to be done
by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of September 9, 1999.
GOLDMAN SACHS 1998 EXCHANGE PLACE FUND, L.P.
By: Goldman Sachs Management Partners, L.P.
By: Goldman Sachs Management, Inc.
By:/s/ David B. Ford
- ---------------------------------
Name: David B. Ford
Title: Director
Page 14 of 16 pages
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EXHIBIT (99.5)
POWER OF ATTORNEY
This power of attorney will expire on September 30, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GOLDMAN SACHS 1997 EXCHANGE PLACE
FUND, L.P. (the "Fund") does hereby make, constitute and appoint each of Hans L.
Reich and Roger S. Begelman, acting individually, its true and lawful attorney,
to execute and deliver in its name and on its behalf whether the Fund is acting
individually or as representative of others, any and all filings required to be
made by the Fund under the Securities Exchange Act of 1934, as amended, giving
and granting unto each said attorney-in-fact power and authority to act in the
premises as fully and to all intents and purposes as the Fund might or could do
if personally present by one of its authorized signatories, hereby ratifying and
confirming all that said attorney-in-fact shall lawfully do or cause to be done
by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of September 9, 1999.
GOLDMAN SACHS 1997 EXCHANGE PLACE FUND, L.P.
By: Goldman Sachs Management Partners, L.P.
By: Goldman Sachs Management, Inc.
By:/s/ David B. Ford
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Name: David B. Ford
Title: Director
Page 15 of 16 pages
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EXHIBIT (99.6)
POWER OF ATTORNEY
This power of attorney will expire on September 30, 2001.
KNOW ALL PERSONS BY THESE PRESENTS that GOLDMAN SACHS MANAGEMENT PARTNERS,
L.P. (the "Company") does hereby make, constitute and appoint each of Hans L.
Reich and Roger S. Begelman, acting individually, its true and lawful attorney,
to execute and deliver in its name and on its behalf whether the Company is
acting individually or as representative of others, any and all filings required
to be made by the Company under the Securities Exchange Act of 1934, as amended,
giving and granting unto each said attorney-in-fact power and authority to act
in the premises as fully and to all intents and purposes as the Company might or
could do if personally present by one of its authorized signatories, hereby
ratifying and confirming all that said attorney-in-fact shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has duly subscribed these presents as
of September 9, 1999.
GOLDMAN SACHS MANAGEMENT PARTNERS, L.P.
By: Goldman Sachs Management, Inc.
By:/s/ David B. Ford
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Name: David B. Ford
Title: Director
Page 16 of 16 pages
