-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EYUKipeN7aPFdU9O9Qa1Vp1F9fpaUvj7aYvuaArUbi/8y13cVSNqm77O9D4nQElG o/2hqCWrJ7IYTCLrmptdfg== 0000902664-06-001063.txt : 20060320 0000902664-06-001063.hdr.sgml : 20060320 20060320155435 ACCESSION NUMBER: 0000902664-06-001063 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060320 DATE AS OF CHANGE: 20060320 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PARTNERRE LTD CENTRAL INDEX KEY: 0000911421 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-44059 FILM NUMBER: 06698708 BUSINESS ADDRESS: STREET 1: 96 PITTS BAY RD STREET 2: CHESNEY HOUSE CITY: PEMBROKE BERMUDA STATE: D0 ZIP: HM 08 BUSINESS PHONE: 14412920888 MAIL ADDRESS: STREET 1: PARTNERRE LTD STREET 2: 96 PITTS BAY ROAD CHESNEY HOUSE CITY: PEMBROKE BERMUDA STATE: D0 ZIP: HM 08 FORMER COMPANY: FORMER CONFORMED NAME: PARTNER RE HOLDINGS LTD DATE OF NAME CHANGE: 19950725 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TPG-Axon Capital Management, LP CENTRAL INDEX KEY: 0001328562 IRS NUMBER: 201967305 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 888 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: (212) 479-2000 MAIL ADDRESS: STREET 1: 888 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G 1 sc13g.txt PARTNERRE LTD. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- SCHEDULE 13G UNDER THE SECURITIES ACT OF 1934 (AMENDMENT NO. __) PartnerRe Ltd. ---------------- (Name of Issuer) COMMON STOCK, PAR VALUE $1.00 PER SHARE ----------------------------------------- (Title of Class of Securities) G6852T105 -------------- (CUSIP Number) March 20, 2006 ------------------------------------ (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) 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. (Continued on following pages) (Page 1 of 16 Pages) - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 2 of 16 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon GP, LLC ("GPLLC") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 3,560,000 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 3,560,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,560,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.3%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- * All percentage ownerships reported in this Schedule 13G are based on 56,731,270 shares of Common Stock issued and outstanding as of February 22, 2006, as reported by the Issuer (as defined below) in its Annual Report on Form 10-K for the fiscal year ended December 31, 2005 filed with the Securities and Exchange Commission on March 2, 2006. - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 3 of 16 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Partners GP, LP ("PartnersGP") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 1,210,394 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 1,210,394 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,210,394 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.1%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 4 of 16 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Partners, LP ("TPG-Axon Domestic") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 1,210,394 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 1,210,394 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,210,394 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.1%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 5 of 16 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Capital Management, LP ("TPG-Axon Management") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 3,560,000 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 3,560,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,560,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.3%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 6 of 16 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) TPG-Axon Partners (Offshore), Ltd. ("TPG-Axon Offshore") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 2,349,606 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 2,349,606 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,349,606 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.1%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 7 of 16 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Dinakar Singh LLC ("Singh LLC") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 3,560,000 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 3,560,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,560,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.3%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 8 of 16 Pages - ------------------- ------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Dinakar Singh ("Mr. Singh") - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 5 SOLE VOTING POWER SHARES 0 --------------------------------------------------------- BENEFICIALLY 6 SHARED VOTING POWER 3,560,000 --------------------------------------------------------- OWNED BY 7 SOLE DISPOSITIVE POWER EACH 0 REPORTING --------------------------------------------------------- PERSON 8 SHARED DISPOSITIVE POWER WITH 3,560,000 - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,560,000 - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.3%* - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 9 of 16 Pages - ------------------- ------------------ ITEM 1. (a) Name of Issuer: PartnerRe Ltd. (b) Address of Issuer's Principal Executive Offices: 96 Pitts Bay Road Pembroke, Bermuda HM08 ITEM 2. (a) Name of Person Filing: GPLLC, PartnersGP, TPG-Axon Domestic, TPG-Axon Management, TPG-Axon Offshore, Singh LLC and Mr. Singh. (b) Address of Principal Office: (All, except TPG-Axon TPG-Axon Offshore Offshore) 888 Seventh Avenue c/o Goldman Sachs (Cayman) Trust Limited 38th Floor PO Box 896, Harbour Centre New York, New York 10019 George Town, Grand Cayman Cayman Islands, BWI (c) Citizenship: Delaware (all except TPG-Axon Offshore); TPG-Axon Offshore: Cayman Islands (d) Title of Class of Securities: Common Stock, par value $1.00 per share (e) CUSIP Number: G6852T105 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A: (a) |_| Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) |_| Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c) (d) |_| Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) |_| An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E). (f) |_| An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F). - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 10 of 16 Pages - ------------------- ------------------ (g) |_| A parent holding company or control person in accordance with ss.240.13d-1(b)(1)(ii)(G). (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) |_| A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (j) |_| Group, in accordance with ss.240.13d-1(b)(1)(ii)(J). ITEM 4. OWNERSHIP (a) Amount beneficially owned: TPG-Axon Management, as investment manager to TPG-Axon Domestic and TPG-Axon Offshore, has the power to direct the disposition and voting of the Shares held by TPG-Axon Domestic and TPG-Axon Offshore. PartnersGP is the general partner of TPG-Axon Domestic. GPLLC is the general partner of PartnersGP and TPG-Axon Management. Singh LLC is a Managing Member of GPLLC. Mr. Singh, an individual, is the Managing Member of Singh LLC and in such capacity may be deemed to control Singh LLC, GPLLC and TPG-Axon Management, and therefore may be deemed the beneficial owner of the securities held by TPG-Axon Domestic and TPG-Axon Offshore. Mr. Singh and Eric Mandelblatt ("Mr. Mandelblatt") are Co-Chief Executive Officers of TPG-Axon Management. Each of Singh LLC, GPLLC, PartnersGP, Mr. Singh and Mr. Mandelblatt disclaims beneficial ownership of all of the shares of Common Stock reported in this 13G. (b) Percent of class: 6.3%* (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 3,560,000 - ------------------- ------------------ CUSIP NO. G6852T105 13G Page 11 of 16 Pages - ------------------- ------------------ (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 3,560,000 ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following |_|. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON See Item 4. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON. Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not applicable ITEM 9. NOTICE OF DISSOLUTION OF THE 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. - ------------------- ------------------- CUSIP NO. G6852T105 13G Page 12 of 16 Pages - ------------------- ------------------- 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. Dated: March 20, 2006 Dinakar Singh LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Managing Member TPG-Axon GP, LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Capital Management, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners GP, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President - ------------------- ------------------- CUSIP NO. G6852T105 13G Page 13 of 16 Pages - ------------------- ------------------- TPG-Axon Partners, LP By: TPG-Axon Partners GP, LP, general partner By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners (Offshore), Ltd. By: /s/ Dinakar Singh ---------------------- Dinakar Singh Director /s/ Dinakar Singh --------------------------- Dinakar Singh - ------------------- ------------------- CUSIP NO. G6852T105 13G Page 14 of 16 Pages - ------------------- ------------------- LIST OF EXHIBITS TO SCHEDULE 13G Page ---- 1. Agreement to Make Joint Filing ....................................... 15 - ------------------- ------------------- CUSIP NO. G6852T105 13G Page 15 of 16 Pages - ------------------- ------------------- EXHIBIT 1 AGREEMENT TO MAKE JOINT FILING Each of the undersigned acknowledges and agrees that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. Dated: March 20, 2006 Dinakar Singh LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Managing Member TPG-Axon GP, LLC By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Capital Management, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President - ------------------- ------------------- CUSIP NO. G6852T105 13G Page 16 of 16 Pages - ------------------- ------------------- TPG-Axon Partners GP, LP By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners, LP By: TPG-Axon Partners GP, LP, general partner By: TPG-Axon GP, LLC, general partner By: /s/ Dinakar Singh ---------------------- Dinakar Singh Co-President TPG-Axon Partners (Offshore), Ltd. By: /s/ Dinakar Singh ---------------------- Dinakar Singh Director /s/ Dinakar Singh --------------------------- Dinakar Singh -----END PRIVACY-ENHANCED MESSAGE-----