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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Concentric Network Corporation
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(Name of Issuer)
Common Stock, $.001 par value
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(Title of Class of Securities)
20589R107
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(CUSIP Number)
Page 1 of 11 pages
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CUSIP NO. 20589R107 13G
- -----------------------
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Goldman, Sachs & Co.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
New York
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SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,089,642
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,089,642
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,089,642
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
7.7%
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TYPE OF REPORTING PERSON*
12
BD-PN-IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 11 pages
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CUSIP NO. 20589R107 13G
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Goldman Sachs Group, L.P.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
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SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,089,642
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,089,642
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,089,642
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
7.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
HC-PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 11 pages
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CUSIP NO. 20589R107 13G
- -----------------------
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GS Capital Partners, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,089,642
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,089,642
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,089,642
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
7.7%
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TYPE OF REPORTING PERSON*
12
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 11 pages
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CUSIP NO. 20589R107 13G
- -----------------------
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GS Advisors, L.P.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,089,642
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,089,642
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,089,642
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
7.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 11 pages
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Item 1(a). Name of Issuer:
Concentric Network Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
10590 North Tantau Avenue
Cupertino, CA 95014
Item 2(a). Name of Persons Filing:
Goldman, Sachs & Co., The Goldman Sachs Group, L.P.,
GS Capital Partners, L.P. and GS Advisors, L.P.
Item 2(b). Address of Principal Business Office or, if None, Residence:
85 Broad Street
New York, NY 10004
Item 2(c). Citizenship:
Goldman, Sachs & Co. - New York
The Goldman Sachs Group, L.P. - Delaware
GS Capital Partners, L.P. - Delaware
GS Advisors, L.P. - Delaware
Item 2(d). Title and Class of Securities:
Common Stock, $.001 par value
Item 2(e). CUSIP Number:
20589R107
Item 3. Not applicable. This Schedule 13G was filed pursuant to Rule
13d-1(d).
Item 4. Ownership./(1)(2)/
(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:
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/(1)/ Includes the ownership of currently exercisable Warrants to purchase
58,523 shares of Common Stock held by GS Capital Partners, L.P.
/(2)/ The Goldman Sachs Group, L.P. ("GS Group") and Goldman, Sachs & Co.
("Goldman Sachs") each disclaim beneficial ownership of the securities
beneficially owned by (i) any client accounts with respect to which
Goldmans Sachs or employees of Goldman Sachs have voting or investment
discretion, or both and (ii) certain investment entities, of which a
subsidiary of GS Group or Goldman Sachs is the general partner, managing
general partner or other manager, to the extent interests in such
entities are held by persons other than GS Group, Goldman Sachs or their
affiliates.
Page 6 of 11 pages
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(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).
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.
See Exhibit (99.2)
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certification.
Not Applicable
Page 7 of 11 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: February 14, 1998
THE GOLDMAN SACHS GROUP, L.P. GOLDMAN, SACHS & CO.
By: /s/ Hans L. Reich By: /s/ Hans L. Reich
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Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
GS CAPITAL PARTNERS, L.P. GS ADVISORS, L.P.
By: /s/ Hans L. Reich By: /s/ Hans L. Reich
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Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
Page 8 of 11 pages
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INDEX TO EXHIBITS
Exhibit No. Exhibit
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99.1 Joint Filing Agreement, dated February 14, 1998 between The
Goldman Sachs Group, L.P., Goldman, Sachs & Co., GS Capital
Partners, L.P. and GS Advisors, L.P.
99.2 Item 7 Information
Page 9 of 11 pages
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EXHIBIT (99.1)
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) 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, $.001 par value of Concentric Network Corporation 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: February 14, 1998
THE GOLDMAN SACHS GROUP, L.P. GOLDMAN, SACHS & CO.
By: /s/ Hans L. Reich By: /s/ Hans L. Reich
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Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
GS CAPITAL PARTNERS, L.P. GS ADVISORS, L.P.
By: /s/ Hans L. Reich By: /s/ Hans L. Reich
------------------------- -------------------------
Name: Hans L. Reich Name: Hans L. Reich
Title: Attorney-in-fact Title: Attorney-in-fact
Page 10 of 11 pages
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EXHIBIT (99.2)
ITEM 7 INFORMATION
The securities being reported on by The Goldman Sachs Group, L.P. ("GS
Group"), as a parent holding company, are owned by GS Capital Partners, L.P.
("GSCP"), a Delaware limited partnership, or may be deemed to be beneficially
owned by Goldman, Sachs & Co. ("Goldman Sachs"), a broker or dealer registered
under Section 15 of the Act and an investment adviser registered under Section
203 of the Investment Advisers Act of 1940. The general partner of GSCP is an
affiliate of GS Group. GS Group is the general partner of and owns a 99%
interest in Goldman Sachs. Goldman Sachs is the investment manager for GSCP.
Page 11 of 11 pages
