Sec Form 13D Filing - CH Investment Partners L.L.C. @ Blue Owl Capital Corp III

Sec Form 13D Filing - CH Investment Partners L.L.C. filing for Blue Owl Capital Corp III (OBDE) - 2021-05-17

Insider filing report for Changes in Beneficial Ownership

Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

OWL ROCK CAPITAL CORPORATION III

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

N/A

(CUSIP Number)

CH Investment Partners, L.L.C.

Attn: Diane Tobin

3953 Maple Avenue, Suite 250

Dallas, TX 75219

(214) 661-8333

with a copy to:

Evan K. Hall, Esq.

Haynes and Boone, LLP

2323 Victory Avenue, Suite 700

Dallas, Texas 75219

(214) 651-5000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

May 13, 2021

(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 that is the subject of this Schedule 13D, and is filing this schedule because of §§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 §240.13d-7 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, as amended (“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).

CUSIP No. N/A


1.		Names of Reporting Persons CH Investment Partners, L.L.C.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
3.		SEC Use Only
4.		Source of Funds (See Instructions) AF
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization Delaware

(1)	See Item 2(a) of the Schedule 13D.

(2)	Based upon 30,072,293.888 shares of Common Stock outstanding as of May 13, 2021, as disclosed by the Issuer to the Reporting Persons in connection with the issuance of additional shares of Common Stock.

CUSIP No. N/A


1.		Names of Reporting Persons ORCC III Warehouse L.L.C.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
3.		SEC Use Only
4.		Source of Funds (See Instructions) 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

(1)	See Item 2(a) of the Schedule 13D.

(2)	Based upon 30,072,293.888 shares of Common Stock outstanding as of May 13, 2021, as disclosed by the Issuer to the Reporting Persons in connection with the issuance of additional shares of Common Stock.

CUSIP No. N/A


1.		Names of Reporting Persons ORCC III Investors L.L.C.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
3.		SEC Use Only
4.		Source of Funds (See Instructions) 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

(1)	See Item 2(a) of the Schedule 13D.

(2)	Based upon 30,072,293.888 shares of Common Stock outstanding as of May 13, 2021, as disclosed by the Issuer to the Reporting Persons in connection with the issuance of additional shares of Common Stock.

CUSIP No. N/A


1.		Names of Reporting Persons Oak Lawn Direct Investors GP, L.L.C.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
3.		SEC Use Only
4.		Source of Funds (See Instructions) AF
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization Delaware

(1)	See Item 2(a) of the Schedule 13D.

(2)	Based upon 30,072,293.888 shares of Common Stock outstanding as of May 13, 2021, as disclosed by the Issuer to the Reporting Persons in connection with the issuance of additional shares of Common Stock.

CUSIP No. N/A


1.		Names of Reporting Persons I35 Advisors, Inc.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
3.		SEC Use Only
4.		Source of Funds (See Instructions) AF
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization Texas

(1)	See Item 2(a) of the Schedule 13D.

(2)	Based upon 30,072,293.888 shares of Common Stock outstanding as of May 13, 2021, as disclosed by the Issuer to the Reporting Persons in connection with the issuance of additional shares of Common Stock.

CUSIP No. N/A


1.		Names of Reporting Persons Kirk L. Rimer
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
3.		SEC Use Only
4.		Source of Funds (See Instructions) AF
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization United States

(1)	See Item 2(a) of the Schedule 13D.

(2)	Based upon 30,072,293.888 shares of Common Stock outstanding as of May 13, 2021, as disclosed by the Issuer to the Reporting Persons in connection with the issuance of additional shares of Common Stock.

CUSIP No. N/A


1.		Names of Reporting Persons Michael R. Silverman
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☒
3.		SEC Use Only
4.		Source of Funds (See Instructions) AF
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐
6.		Citizenship or Place of Organization United States

(1)	See Item 2(a) of the Schedule 13D.

(2)	Based upon 30,072,293.888 shares of Common Stock outstanding as of May 13, 2021, as disclosed by the Issuer to the Reporting Persons in connection with the issuance of additional shares of Common Stock.

This Amendment to Schedule 13D (as amended, this “Schedule 13D”) is jointly filed by and on behalf of each of the Reporting Persons to amend the Schedule 13D related to shares of common stock, par value $0.01 per share (the “Common Stock”), of Owl Rock Capital Corporation III, a Maryland corporation (the “Issuer”) initially filed with the Securities and Exchange Commission (the “SEC”) on August 18, 2020. Each capitalized term used and not defined herein shall have the meaning assigned to such term in the Schedule 13D. Except as otherwise provided herein, each Item of the Schedule 13D remains unchanged.

Item 3. Source and Amount of Funds or other Consideration

Item 3 is hereby amended and supplemented as follows:

“Pursuant to the Subscription Agreement and a capital call notice delivered by the Issuer with respect thereto, on May 13, 2021, ORCC III Warehouse purchased 502,359.321 shares of Common Stock from the Issuer for an aggregate purchase price of approximately $7,399,752.80. The source of the funds for the purchase of shares of Common Stock was investment capital of ORCC III Warehouse.

Pursuant to the Investors Subscription Agreement and a capital call notice delivered by the Issuer with respect thereto, on May 13, 2021, ORCC III Investors purchased 570,936.445 shares of Common Stock from the Issuer for an aggregate purchase price of approximately $8,409,893.84. The source of the funds for the purchase of shares of Common Stock was investment capital of ORCC III Investors.”

Item 5. Interest in Securities of the Issuer

Item 5 is hereby amended and restated in its entirety as follows:

“The information set forth in Items 3 and 4 of this Schedule 13D is hereby incorporated herein by reference.

(a) The aggregate number and percentage of the class of securities identified pursuant to Item 1 beneficially owned by each Reporting Person is stated in Items 11 and 13 on the cover page(s) hereto.

Each Reporting Person declares that neither the filing of this Schedule 13D nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any syndicate or group with respect to the Issuer or any securities of the Issuer.

(b)

Number of shares as to which each Reporting Person has:

(i)

sole power to vote or to direct the vote:

See Item 7 on the cover page(s) hereto.

(ii)

shared power to vote or to direct the vote:

See Item 8 on the cover page(s) hereto.

(iii)

sole power to dispose or to direct the disposition of:

See Item 9 on the cover page(s) hereto.

(iv)

shared power to dispose or to direct the disposition of:

See Item 10 on the cover page(s) hereto.

As of the date hereof, no Reporting Person directly owns or holds any shares of Common Stock of the Issuer other than the Funds, as the direct beneficial owners of the securities covered by this statement. Except to the extent of their pecuniary interest, each of the Reporting Persons (other than the Funds) disclaims beneficial ownership of the shares of the Common Stock reported herein and the filing of this Schedule 13D shall not be construed as an admission that any such Reporting Person is the beneficial owner of any securities covered by this statement. ORCC III Warehouse disclaims beneficial ownership of the shares of Common Stock held by ORCC III Investors. ORCC III Investors disclaims beneficial ownership of the shares of Common Stock held by ORCC III Warehouse.

As of the date hereof, no Reporting Person owns any shares of Common Stock of the Issuer other than as set forth in this Item 5.

(c) Other than as set forth in this Schedule 13D, there have been no transactions in the class of securities reported on that were effected by the Reporting Persons during the past sixty days or since the most recent filing of Schedule 13D, whichever is less.

(d) Not applicable.

(e) Not applicable.”

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: May 17, 2021	ORCC III WAREHOUSE L.L.C.

	By:	Oak Lawn Direct Investors GP, L.L.C.
	Its:	Managing Member

	By:	I35 Advisors, Inc.
	Its:	Manager

	By:	/s/ Diane Tobin
	Name:	Diane Tobin
	Title:	Authorized Signatory
	Date:	May 17, 2021

	OAK LAWN DIRECT INVESTORS GP, L.L.C.

	By:	I35 Advisors, Inc.
	Its:	Manager

	By:	/s/ Diane Tobin
	Name:	Diane Tobin
	Title:	Authorized Signatory
	Date:	May 17, 2021

	I35 ADVISORS, INC.

	By:	/s/ Diane Tobin
	Name:	Diane Tobin
	Title:	Authorized Signatory
	Date:	May 17, 2021

	CH INVESTMENT PARTNERS, L.L.C.
	By:	Oak Lawn Capital Management, L.P.
	Its:	Managing Member

	By:	I35 Advisors, Inc.
	Its:	General Partner

	By:	/s/ Diane Tobin
	Name:	Diane Tobin
	Title:	Authorized Signatory
	Date:	May 17, 2021


				KIRK L. RIMER

				By:		/s/ Diane Tobin
				Name:		Diane Tobin
				Title:		Authorized Signatory
				Date:		May 17, 2021

				MICHAEL R. SILVERMAN

				By:		/s/ Diane Tobin
				Name:		Diane Tobin
				Title:		Authorized Signatory
				Date:		May 17, 2021

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

Sole Voting Power

0

Shared Voting Power

4,630,896.816 (1)

Sole Dispositive Power

0

Shared Dispositive Power

4,630,896.816