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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.___)*
Premcor Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
74045Q
--------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2002
--------------------------------------------------------------------------------
(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)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
* 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 the disclosures provided in a prior cover page.
The information required in 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 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 1 of 15
CUSIP No. 74045Q 13G Page 2 of 15 Pages
________________________________________________________________________________
1. Name of Reporting Person: Blackstone Management Associates III L.L.C.
I.R.S. Identification Nos. of above persons (entities only):
________________________________________________________________________________
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization: Delaware
________________________________________________________________________________
NUMBER OF 5. Sole Voting Power: 27,817,104
SHARES
_________________________________________________________________
BENEFICIALLY 6. Shared Voting Power: 0
OWNED BY
_________________________________________________________________
EACH 7. Sole Dispositive Power: 27,817,104
REPORTING
_________________________________________________________________
PERSON 8. Shared Dispositive Power: 0
WITH
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person: 27,817,104
________________________________________________________________________________
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[_]
________________________________________________________________________________
11. Percent of Class Represented by Amount in Row (9): 47.9%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions): OO
Page 2 of 15
CUSIP No. 74045Q 13G Page 3 of 15 Pages
________________________________________________________________________________
1. Name of Reporting Person: Blackstone Capital Partners III Merchant
Banking Fund L.P.
I.R.S. Identification Nos. of above persons (entities only):
________________________________________________________________________________
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization: Delaware
________________________________________________________________________________
NUMBER OF 5. Sole Voting Power: 22,193,918
SHARES
_________________________________________________________________
BENEFICIALLY 6. Shared Voting Power: 0
OWNED BY
_________________________________________________________________
EACH 7. Sole Dispositive Power: 22,193,918
REPORTING
_________________________________________________________________
PERSON 8. Shared Dispositive Power: 0
WITH
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person: 22,193,918
________________________________________________________________________________
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[_]
________________________________________________________________________________
11. Percent of Class Represented by Amount in Row (9): 38.2%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions): PN
Page 3 of 15
CUSIP No. 74045Q 13G Page 4 of 15 Pages
________________________________________________________________________________
1. Name of Reporting Person: Blackstone Offshore Capital Partners III L.P.
I.R.S. Identification Nos. of above persons (entities only)
________________________________________________________________________________
2. Check the Appropriate Box if a Member of a Group:
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization: Cayman Islands
________________________________________________________________________________
NUMBER OF 5. Sole Voting Power: 3,954,154
SHARES
_________________________________________________________________
BENEFICIALLY 6. Shared Voting Power: 0
OWNED BY
_________________________________________________________________
EACH 7. Sole Dispositive Power: 3,954,154
REPORTING
_________________________________________________________________
PERSON 8. Shared Dispositive Power: 0
WITH
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person: 3,954,154
________________________________________________________________________________
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[_]
________________________________________________________________________________
11. Percent of Class Represented by Amount in Row (9): 6.8%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions): PN
Page 4 of 15
CUSIP No. 74045Q 13G Page 5 of 15 Pages
________________________________________________________________________________
1. Name of Reporting Person: Peter G. Peterson
I.R.S. Identification Nos. of above persons (entities only):
________________________________________________________________________________
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization: United States
________________________________________________________________________________
NUMBER OF 5. Sole Voting Power: 27,817,104
SHARES
_________________________________________________________________
BENEFICIALLY 6. Shared Voting Power: 0
OWNED BY
_________________________________________________________________
EACH 7. Sole Dispositive Power: 27,817,104
REPORTING
_________________________________________________________________
PERSON 8. Shared Dispositive Power:
WITH
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person: 27,817,104
________________________________________________________________________________
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[_]
________________________________________________________________________________
11. Percent of Class Represented by Amount in Row (9): 47.9%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions): IN
Page 5 of 15
CUSIP No. 74045Q 13G Page 6 of 15 Pages
________________________________________________________________________________
1. Name of Reporting Person: Stephen A. Schwarzman
I.R.S. Identification Nos. of above persons (entities only):
________________________________________________________________________________
2. Check the Appropriate Box if a Member of a Group
(a) [_]
(b) [X]
________________________________________________________________________________
3. SEC Use Only
________________________________________________________________________________
4. Citizenship or Place of Organization: United States
________________________________________________________________________________
NUMBER OF 5. Sole Voting Power: 27,817,104
SHARES
_________________________________________________________________
BENEFICIALLY 6. Shared Voting Power: 0
OWNED BY
_________________________________________________________________
EACH 7. Sole Dispositive Power: 27,817,104
REPORTING
_________________________________________________________________
PERSON 8. Shared Dispositive Power: 0
WITH
________________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person: 27,817,104
________________________________________________________________________________
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[_]
________________________________________________________________________________
11. Percent of Class Represented by Amount in Row (9): 47.9%
________________________________________________________________________________
12. Type of Reporting Person (See Instructions): IN
Page 6 of 15
Item 1(a). Name of Issuer:
Premcor Inc.
__________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
1700 E. Putnam Avenue, Suite 500, Old Greenwich, CT 06870
__________________________________________________________________
Item 2(a). Name of Person Filing:
Blackstone Management Associates III L.L.C.
Blackstone Capital Partners III Merchant Banking Fund L.P.
Blackstone Offshore Capital Partners III L.P.
Peter G. Peterson
Stephen A. Schwarzman
__________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
c/o Blackstone Management Associates III L.L.C.
345 Park Avenue, New York, New York 10154
__________________________________________________________________
Item 2(c). Citizenship:
Blackstone Management Associates III L.L.C. - Delaware
Blackstone Capital Partners III Merchant Banking Fund L.P. -
Delaware
Blackstone Offshore Capital Partners III L.P. - Cayman Islands
Peter G. Peterson - United States
Stephen A. Schwarzman - United States
__________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock, par value $.01 per share
__________________________________________________________________
Item 2(e). CUSIP Number:
74045Q
__________________________________________________________________
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
Page 7 of 15
(d) [_] Investment company registered under Section 8 of the Investment
Company Act.
(e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
__________________________________________________________________
Item 4. Ownership.
(a) Amount beneficially owned:
Blackstone Capital Partners III Merchant Banking Fund L.P., a
Delaware limited partnership ("BCP III") is the record holder of
22,193,918 shares of the identified class of securities and
Blackstone Offshore Capital Partners III L.P., a Cayman Islands
exempted limited partnership ("BOCP III") is the record holder of
3,954,154 shares of the identified class of securities.
Blackstone Family Investment Partnership III L.P., a Delaware limited
partnership ("BFIP III") is the record holder of 1,669,032 shares of
the identified class of securities.
As the sole general partner of each of BCP III and BFIP III and the
sole investment general partner of BCOP III, Blackstone Management
Associates III L.L.C., a Delaware limited liability company ("BMA
III") may be deemed to be the beneficial owner of 27,817,104 shares
of the identified securities.
Messrs. Peter G. Peterson and Stephen A. Schwarzman are the founding
members of BMA III (the "Founding Members") and have the shared power
to vote or to direct the vote of, and to dispose or to direct the
disposition of, the shares of the identified class of securities that
may be deemed to be beneficially owned by BMA III. As a result, the
Founding Members may be deemed to beneficially own the shares of the
identified class of securities that BMA III may be deemed to
beneficially own, but they disclaim any such beneficial ownership
except to the extent of their individual pecuniary interest in such
securities.
Page 8 of 15
(b) Percent of class:
See Item 11 of each cover page, which is based on Item 5 of each
cover page. See Item 4(a).
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Item 5 of each cover page.
(ii) Shared power to vote or to direct the vote:
See Item 6 of each cover page.
(iii) Sole power to dispose or to direct the disposition of:
See Item 7 of each cover page.
(iv) Shared power to dispose or to direct the disposition of:
See Item 8 of each cover page.
_____________________________________________________________________
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.
See Item 4(a) above.
_____________________________________________________________________
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.
BMA III is the sole general partner of BCP III and BFIP III and the
sole investment general partner of BOCP III and therefore may be
deemed to be the beneficial owner of the securities held by such
limited partnerships. However, BMA III disclaims that it is a
beneficial owner of such securities, except to the extent of its
pecuniary interest in such securities. BCP III, BFIP III and BOCP III
may be deemed to be a group in relation to their respective
investments in Premcor Inc.
The Founding Members may be deemed to be a group in relation to their
shared power to vote or to direct the vote of, and to dispose or to
direct the disposition of, the securities held, through BMA III, by
BCP III, BFIP III and BOCP III.
_____________________________________________________________________
Page 9 of 15
Item 9. Notice of Dissolution of Group.
Not applicable.
____________________________________________________________________
Item 10. Certifications.
Not applicable.
Page 10 of 15
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.
BLACKSTONE CAPITAL PARTNERS III
MERCHANT BANKING FUND L.P.
By: Blackstone Management Associates III
L.L.C., general partner
By: /s/ Robert L. Friedman
---------------------------------
Name: Robert L. Friedman
Title: Member
Dated: February 13, 2003
Page 11 of 15
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.
BLACKSTONE OFFSHORE CAPITAL
PARTNERS III L.P.
By: Blackstone Management Associates III
L.L.C., general partner
By: /s/ Robert L. Friedman
---------------------------------
Name: Robert L. Friedman
Title: Member
Dated: February 13, 2003
Page 12 of 15
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.
BLACKSTONE MANAGEMENT ASSOCIATES III L.L.C.
By: /s/ Robert L. Friedman
---------------------------------
Name: Robert L. Friedman
Title: Member
Dated: February 13, 2003
Page 13 of 15
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.
/s/ Peter G. Peterson
--------------------------------
PETER G. PETERSON
Dated: February 13, 2003
Page 14 of 15
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.
/s/ Stephen A. Schwarzman
--------------------------------
STEPHEN A. SCHWARZMAN
Dated: February 13, 2003
Page 15 of 15