SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4 )*
Corporate Renaissance Group, Inc.
___________________________________________________
(Name of Issuer)
Common Stock, $0.01 par value
___________________________________________________
(Title of Class of Securities)
220033104
___________________________________________________
(CUSIP Number)
David B. Hertzog, Esq., Hertzog, Calamari & Gleason,
100 Park Avenue, New York, NY 10017 (212) 481-9500
___________________________________________________
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 9, 1998
___________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on
Schedule 13G to report the acquisition which is the subject
of this 13D, and is filing this schedule because of Sections
240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box .
Note: Schedules filed in paper format shall include a
signed original and five copies of the schedule, including
all exhibits. See Section 240.13d-7(b) for other parties to
whom copies are to be sent.
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).
<PAGE>
CUSIP NO.: 220033104 Page 2 of 8 Pages
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(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Curators Partners, L.P.*
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)X
(b)
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(3) SEC USE ONLY
- ------------------------------------------------------------
(4) SOURCE OF FUNDS WC
- ------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- ------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (7) SOLE VOTING POWER See Walter Kass
SHARES -----------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER None
OWNED BY -----------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER See Walter Kass
REPORTING -----------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER None
- ------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 41,634
- ------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
- ------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
- ------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------
* Curators Fund Management, L.P., a Delaware limited
partnership, is the general partner of this entity.
Kass Fund Management, Inc., a Delaware corporation, of
which Walter Kass is the principal, is the general
partner of Curators Fund Management, L.P.
<PAGE>
CUSIP NO.: 220033104 Page 3 of 8 Pages
- ------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Curators Capital Management, Inc.*
- ------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b)
- ------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------
(4) SOURCE OF FUNDS WC
- ------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- ------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER See Walter Kass
SHARES -----------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER None
OWNED BY -----------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER See Walter Kass
REPORTING -----------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER None
- ------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 76,900
- ------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
- ------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.4%
- ------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
IA
- ------------------------------------------------------------
* Curators Capital Management, Inc., of which Walter Kass
is principal, acts as the investment adviser to certain
discretionary managed accounts holding the securities
set forth above.
<PAGE>
CUSIP NO.: 220033104 Page 4 of 8 Pages
- ------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Walter Kass
- ------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) X
(b)
- ------------------------------------------------------------
(3) SEC USE ONLY
- ------------------------------------------------------------
(4) SOURCE OF FUNDS
- ------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
- ------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER 118,534
SHARES -----------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER None
OWNED BY -----------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER 118,534
REPORTING -----------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER None
- ------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 118,534
- ------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
- ------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.9%
- ------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------
<PAGE>
Page 5 of 8 Pages
Item 1. Security and Issuer. This amendment relates to
the common stock, par value $0.01 per share (the "Common
Stock"), issued by Corporate Renaissance Group, Inc., a
Delaware corporation (the "Company"). The Company's
principal executive offices are located at 1185 Avenue of
the Americas, 18th Floor, New York, New York 10036.
Item 2. Identity and Background. (a) This Schedule is
filed on behalf of (i) Curators Partners, L.P., a Delaware
limited partnership ("Curators Partners"), (ii) Curators
Capital Management, Inc., a Delaware corporation
("Management"), and (iii) Walter Kass ("Kass"). Each of the
foregoing is hereinafter referred to, individually, as a
"Reporting Person" and, collectively, as the "Reporting
Persons."
(b) The principal office and business address of
the Reporting Persons is 420 Lexington Avenue, Suite 1633A,
New York, New York 10170.
(c) Curators Partners is an investment
partnership of which Curators Fund Management, L.P., a
Delaware limited partnership ("CFM"), is the general partner
and the investment adviser. Kass Fund Management, Inc., a
Delaware corporation ("KFM"), is the sole general partner of
CFM. Management is an investment adviser to certain
discretionary managed investment accounts. The principal
occupation of Kass, who is a United States citizen, is to
serve as the sole officer, director and shareholder of each
of KFM and of Management, and, as such, Kass has the right,
directly and indirectly, to direct the voting of proxies or
consents with respect to stockholder matters relating to the
shares of equity securities owned or held by Curators
Partners and the managed account clients of Management.
(d) None of the Reporting Persons has, during the
last five years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) None of the Reporting Persons has, during the
last five years, been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation
with respect to such laws.
(f) See Item 2(c) above.
<PAGE>
Page 6 of 8 Pages
Item 3. Source and Amount of Funds or Other Consideration.
Each of Curators Partners and Management utilized available
investment capital to purchase the shares of Common Stock
(the "Securities"). Each of Curators Partners and
Management, on behalf of its managed accounts, acquired the
Securities held by it in the ordinary course of business in
a series of transactions, including the transactions
described in Item 5(c) below. Curators acquired the
Securities for an aggregate purchase price of Three Hundred
Seventy Two Thousand Four Hundred Eighty Seven Dollars and
Seventy Seven Cents ($372,487.77) and Management acquired
the Securities for an aggregate purchase price of Six
Hundred Fifty Nine Thousand Three Hundred Eight Dollars and
Ninety Cents ($659,308.90).
Item 4. Purpose of Transaction. Each of the Reporting
Persons acquired his or its respective Securities for
investment purposes and not with the purpose of changing or
influencing control of the Company.
The Reporting Persons intend to continually assess
the market for the Common Stock, as well as the Company's
financial position and operations, including pursuing
discussions with the Company's management with respect to
the Company's performance. The Reporting Persons, depending
upon the outcome of such discussions, may or may not,
acquire additional shares of Common Stock or take other
actions. Alternatively, the Reporting Persons may determine
to sell or otherwise dispose of some or all of the Common
Stock owned by them, depending upon a continuing assessment
of future developments. The foregoing actions may be taken
by one or more of the Reporting Persons and, while currently
there are no plans to do so, possibly in combination with
others.
Except as set forth herein, the Reporting Persons
have no plans or proposals to engage in any transactions
involving the Company or the securities of the Company, as
set forth in Items 4(a)-(j) of the form of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) The aggregate percentage of shares of Common
Stock reported owned by each Reporting Person herein is
based upon 920,350 shares outstanding, which is the total
number of shares of Common Stock outstanding as of January
2, 1998, as reported by the Company in its quarterly report
on Form 10-Q filed with the Securities and Exchange
Commission on February 12, 1998, less the number of shares
reported as repurchased by the Company on Forms N-23C-1
filed with the Securities and Exchange Commission on
February 4, 1998, and March 3, 1998. See cover pages to
<PAGE>
Page 7 of 8 Pages
this Schedule, Items (7)-(9), (11) and (13) for each
Reporting Person. In the aggregate, the Reporting Persons
beneficially own a total of 118,534 shares of Common Stock
(approximately 12.9%).
(b) See cover pages to this Schedule, Items (7)-
(9), (11) and (13) for each Reporting Person, setting forth
the aggregate number and percentage of the shares of Common
Stock beneficially owned by each Reporting Person, the
number of such shares as to which there is sole or shared
power to vote or to direct the vote, and sole or shared
power to dispose or to direct the disposition. Kass has
power to vote or to direct the vote, and has power to
dispose or to direct disposition, with respect to 118,534
shares of Common Stock beneficially owned by the Curators
Partners and the managed account clients of Management. See
cover pages to this Schedule Item (1) for each Reporting
Person. Also see Item 2(c) above.
(c) On February 6, 1998, Curators Partners
purchased an additional 4,500 shares of Common Stock in an
open-market brokerage transaction for a purchase price of
Twenty Seven Thousand One Hundred Sixty Two Dollars
($27,162) or an average price of $6.036 per share. On March
9, 1998, Management purchased an additional 20,000 shares of
Common Stock in an open-market brokerage transaction for a
purchase price of One Hundred Fifty One Thousand Two Hundred
Fifty Dollars ($151,250) or an average price of $7.563 per
share.
(d) No person other than Curators Partners
herein is known to have the right to receive or the power to
direct the receipt of dividends from or the proceeds from
the sale of shares beneficially owned by Curators Partners.
The owners of managed accounts who are advised by Management
have the right to receive and the power to direct the
receipt of dividends from or the proceeds from the sale of
shares beneficially owned by Management.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer. The
partnership agreement of Curators Partners provides for its
general partner, CFM (and, accordingly, Kass), to exercise
sole voting and dispositive power with respect to its shares
of Common Stock and also provides for an annual allocation
to CFM of a portion of the profits generated by transactions
engaged in by Curators Partners. Management, and
accordingly, Kass, has sole discretion over its managed
accounts and, accordingly, has sole voting and dispositive
power with respect to its shares of Common Stock. Managed
accounts of Management are charged an annual fee, based on a
percentage of the market value of total assets under
<PAGE>
Page 8 of 8 Pages
management. There are no written agreements among the
Reporting Persons with respect to the matters set forth in
Item 4 of this Schedule.
Item 7. Material to be Filed as Exhibits. None.
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.
March 12, 1998
Curators Partners, L.P.
By: Curators Fund Management, L.P., General Partner
By: Kass Fund Management, Inc., General Partner
By: /s/ Walter Kass
________________________________________________
Walter Kass, President
Curators Capital Management, Inc.
By: /s/ Walter Kass
________________________________________________
Walter Kass, President
/s/ Walter Kass
_____________________________________________________
Walter Kass
