SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE
Quarterly Period Ended April 30, 1995
Or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE
Transition period from ___________ to ___________
Commission file number: 0-24856
This Amendment to the Registrant's Form 10-Q which was filed with the
Securities and Exchange Commission on June 14, 1995 is being filed solely
to include the Financial Data Schedule pursuant to Rule 401 of Regulation
S-T.
UST PRIVATE EQUITY INVESTORS FUND, INC.
___________________________________________________________________________
(Exact Name of Registrant as Specified in its Charter)
Maryland 13-3786385
___________________________________________________________________________
(State or Other Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
114 West 47th Street
New York, New York 10036-1332
______________________________________________________________________________
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 852-1000
Not applicable
______________________________________________________________________________
Former name, former address and former fiscal year, if changed since last report
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes X No ___
INDEX
UST PRIVATE EQUITY INVESTORS FUND, INC.
PART I FINANCIAL INFORMATION
__________________________________
Item 1. Financial Statements (Unaudited).
Statement of Assets and Liabilities as of April 30, 1995
(Unaudited).
Notes to Financial Statements (Unaudited).
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
PART II OTHER INFORMATION
_____________________________
Item 1. Legal Proceedings.
Item 2. Changes in Securities.
Item 3. Defaults upon Senior Securities.
Item 4. Submission of Matters to a Vote of Security Holders.
Item 5. Other Information.
Item 6. Exhibits and Reports on Form 8-K.
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited).
UST PRIVATE EQUITY INVESTORS FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES
APRIL 30, 1995
(unaudited)
Assets:
Cash....................................................... $1,000
Deferred organizational and initial offering expenses...... $313,547
Total Assets......................................... $314,547
Liabilities:
Accrued organizational expenses and
initial offering costs.................................. $313,547
Net Assets consist of:
Common Stock, $0.01 par value; authorized
100,000 shares; issued and
outstanding 1 share.................................. $1,000
_____
Net Asset Value Per Share................................... $1,000
_____
______________
Notes to Financial Statements (Unaudited):
(1) The Company was incorporated in the State of Maryland on September 16,
1994 and has had no operations to date other than matters relating
to its organization and registration under the Securities Act of 1933,
as amended, as a non-diversified, closed-end management investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940, as amended, and the
sale and issuance of 1 share of its common stock to David I. Fann and
the offering of its shares to the public.
(2) Costs incurred by the Company in connection with its organization,
estimated at $25,000, will be amortized on a straight-line basis over
a five year period beginning at the commencement of operations of the
Company. Costs incurred by the Company in connection with the
initial registration of the Shares, estimated at $288,547 will be
charged against the proceeds of the offering. Approximately $247,964
of these costs have been paid by United States Trust Company of New
York and will be reimbursed to it.
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
On September 16, 1994, David I. Fann, the Company's President, purchased 1
share of the Company's common stock (the "Shares") for $1,000. The Company
began the initial public offering of its Shares on December 16, 1994. As
of April 30, 1995, the Company has not accepted subscriptions.
Subscriptions have been deposited in an interest-bearing bank escrow
account with United States Trust Company of New York ("U.S. Trust") pending
the first closing which will be held on or about the fifth business day
after the receipt by U.S. Trust of subscription funds representing 25,000
Shares or $25,000,000. If subscription funds representing 25,000 Shares or
$25,000,000 are not received by August 31, 1995, the offering will
terminate and all proceeds from the offering will be refunded to investors
together with any interest earned thereon and without any deductions. The
Company will begin investment operations after the first closing.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
_________________
The Company is not party to any material pending legal
proceedings.
Item 2. Changes in Securities.
_____________________
Not applicable.
Item 3. Defaults Upon Senior Securities.
_______________________________
Not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
___________________________________________________
No matter was submitted to a vote of security-holders during the
quarter covered by this report.
Item 5. Other Information.
_________________
None.
Item 6. Exhibits and Reports on Form 8-K.
________________________________
(a) Exhibits.
Financial Data Schedule pursuant to Rule 902(g) of
Regulation S-T.
(b) Reports on Form 8-K.
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
UST PRIVATE EQUITY INVESTORS FUND, INC.
/s/ David I. Fann
By: David I. Fann, President
(Principal Executive Officer)
/s/ Lisa A. Cummings
By: Lisa A. Cummings, Chief Financial Officer
and Treasurer
(Principal Financial and Accounting Officer)
Date: June 23, 1995
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Schedule contains summary financial information extracted from the
Registrant's Statement of Assets and Liabilities for the period ended April 30,
1995 and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-END> APR-30-1995
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 314,547
<TOTAL-ASSETS> 314,547
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<OTHER-ITEMS-LIABILITIES> 313,547
<TOTAL-LIABILITIES> 313,547
<SENIOR-EQUITY> 0
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<AVERAGE-NET-ASSETS> 1,000
<PER-SHARE-NAV-BEGIN> 1,000
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
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<PER-SHARE-NAV-END> 1,000
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
