-----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, Erhupop6z6kinKXULfYCzJ1jivgb3APuT9DAe2RxxnONeSNQ9Z4ldmGkYZgpgXV1 BtxO/3R3hbmh01/NbA/R6A== 0000899140-08-000203.txt : 20080128 0000899140-08-000203.hdr.sgml : 20080128 20080128160631 ACCESSION NUMBER: 0000899140-08-000203 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080128 DATE AS OF CHANGE: 20080128 GROUP MEMBERS: CANVAS CAPITAL MANAGEMENT, LP GROUP MEMBERS: CR INTRINSIC INVESTORS, LLC GROUP MEMBERS: S.A.C. CAPITAL MANAGEMENT, LLC GROUP MEMBERS: STEVEN A. COHEN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ASSURED GUARANTY LTD CENTRAL INDEX KEY: 0001273813 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-80392 FILM NUMBER: 08554154 MAIL ADDRESS: STREET 1: 30 WOOD BOURNE AVE CITY: HAMILTON BERMUDA STATE: D0 ZIP: 0000 FORMER COMPANY: FORMER CONFORMED NAME: AGR LTD DATE OF NAME CHANGE: 20040122 FORMER COMPANY: FORMER CONFORMED NAME: AGC HOLDINGS LTD DATE OF NAME CHANGE: 20031218 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SAC CAPITAL ADVISORS LLC CENTRAL INDEX KEY: 0001018103 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 2036142000 MAIL ADDRESS: STREET 1: 72 CUMMINGS POINT ROAD CITY: STAMFORD STATE: CT ZIP: 06902 SC 13G 1 a012808a.txt INITIAL FILING UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* ASSURED GUARANTY LTD. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.01 Par Value - -------------------------------------------------------------------------------- (Title of Class of Securities) G0585R106 --------- (CUSIP Number) January 17, 2008 ---------------- (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 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 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 (however, see the Notes). Page 1 of 11 - ----------------------------- -------------------- CUSIP No. G0585R106 13G Page 2 of 11 Pages - ----------------------------- -------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON S.A.C. Capital Advisors, LLC - ---------- --------------------------------------------------------------------- 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 - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 3,652,242 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 3,652,242 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,652,242 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.4% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* 00 - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 2 of 11 - ----------------------------- -------------------- CUSIP No. G0585R106 13G Page 3 of 11 Pages - ----------------------------- -------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON S.A.C. Capital Management, LLC - ---------- --------------------------------------------------------------------- 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 - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 3,652,242 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 3,652,242 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,652,242 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.4% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* 00 - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 3 of 11 - ----------------------------- -------------------- CUSIP No. G0585R106 13G Page 4 of 11 Pages - ----------------------------- -------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON CR Intrinsic Investors, LLC - ---------- --------------------------------------------------------------------- 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 - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 2,000,000 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 2,000,000 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,000,000 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.0% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* 00 - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 4 of 11 - ----------------------------- -------------------- CUSIP No. G0585R106 13G Page 5 of 11 Pages - ----------------------------- -------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Canvas Capital Management, LP - ---------- --------------------------------------------------------------------- 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 - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 342,400 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 342,400 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 342,400 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.5% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* 00 - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 5 of 11 - ----------------------------- -------------------- CUSIP No. G0585R106 13G Page 6 of 11 Pages - ----------------------------- -------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Steven A. Cohen - ---------- --------------------------------------------------------------------- 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 - --------------------- ----- ---------------------------------------------------- 5 SOLE VOTING POWER 0 ----- ---------------------------------------------------- 6 SHARED VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 5,994,642 (see Item 4) BY EACH REPORTING ----- ---------------------------------------------------- PERSON WITH 7 SOLE DISPOSITIVE POWER 0 ----- ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER 5,994,642 (see Item 4) - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,994,642 (see Item 4) - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.9% (see Item 4) - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON* IN - ---------- --------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT Page 6 of 11 Item 1(a) Name of Issuer: -------------- Assured Guaranty Ltd. Item 1(b) Address of Issuer's Principal Executive Offices: ----------------------------------------------- 30 Woodbourne Avenue, Hamilton HM 08, Bermuda Items 2(a) Name of Person Filing: --------------------- This statement is filed by: (i) S.A.C. Capital Advisors, LLC ("SAC Capital Advisors") with respect to shares of common stock, $0.01 par value ("Shares"), of the Issuer beneficially owned by S.A.C. Capital Associates, LLC ("SAC Capital Associates"), S.A.C. MultiQuant Fund, LLC ("SAC MultiQuant Fund") and S.A.C. Select Fund, LLC ("SAC Select Fund"); (ii) S.A.C. Capital Management, LLC ("SAC Capital Management") with respect to Shares beneficially owned by SAC Capital Associates, SAC MultiQuant Fund and SAC Select Fund; (iii) CR Intrinsic Investors, LLC ("CR Intrinsic Investors") with respect to Shares beneficially owned by CR Intrinsic Investments, LLC ("CR Intrinsic Investments"); (iv) Canvas Capital Management, LP ("Canvas Capital Management") with respect to Shares beneficially owned by Canvas Capital Associates, LLC ("Canvas Capital Associates"); and (v) Steven A. Cohen with respect to Shares beneficially owned by SAC Capital Advisors, SAC Capital Management, SAC Capital Associates, SAC MultiQuant Fund, SAC Select Fund, CR Intrinsic Investors, CR Intrinsic Investments, Canvas Capital Management and Canvas Capital Associates. SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors, Canvas Capital Management and Steven A. Cohen have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended. Item 2(b) Address of Principal Business Office: ------------------------------------ The address of the principal business office of (i) SAC Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72 Cummings Point Road, Stamford, Connecticut 06902, (ii) SAC Capital Management is 540 Madison Avenue, New York, New York 10022, and (iii) Canvas Capital Management is 101 California Street, Suite 4225, San Francisco, California 94111. Page 7 of 11 Item 2(c) Citizenship: ----------- SAC Capital Advisors, SAC Capital Management and CR Intrinsic Investors are Delaware limited liability companies. Canvas Capital Management is a Delaware limited partnership. Mr. Cohen is a United States citizen. Item 2(d) Title of Class of Securities: ---------------------------- Common Stock, $0.01 par value per share Item 2(e) CUSIP Number: ------------ G0585R106 Item 3 Not Applicable Item 4 Ownership: --------- The percentages used herein are calculated based upon the Shares issued and outstanding as of November 1, 2007 as reported on the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission by the Issuer for the quarterly period ended September 30, 2007. As of the close of business on January 25, 2008: 1. S.A.C. Capital Advisors, LLC (a) Amount beneficially owned: 3,652,242 (b) Percent of class: 5.4% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 3,652,242 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 3,652,242 2. S.A.C. Capital Management, LLC (a) Amount beneficially owned: 3,652,242 (b) Percent of class: 5.4% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 3,652,242 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 3,652,242 3. CR Intrinsic Investors, LLC (a) Amount beneficially owned: 2,000,000 (b) Percent of class: 3.0% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 2,000,000 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 2,000,000 Page 8 of 11 4. Canvas Capital Management, LP (a) Amount beneficially owned: 342,400 (b) Percent of class: 0.5% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 342,400 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 342,400 5. Steven A. Cohen (a) Amount beneficially owned: 5,994,642 (b) Percent of class: 8.9% (c)(i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 5,994,642 (iii) Sole power to dispose or direct the disposition: -0- (iv) Shared power to dispose or direct the disposition: 5,994,642 Pursuant to investment management agreements, each of SAC Capital Advisors and SAC Capital Management share all investment and voting power with respect to the securities held by SAC Capital Associates, SAC MultiQuant Fund and SAC Select Fund. Pursuant to an investment management agreement, CR Intrinsic Investors maintains investment and voting power with respect to the securities held by CR Intrinsic Investments. Pursuant to Canvas Capital Associates' operating agreement, Canvas Capital Management maintains investment and voting power with respect to the securities held by Canvas Capital Associates. Mr. Cohen controls each of SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors and Canvas Capital Management. CR Intrinsic Investments is a wholly owned subsidiary of SAC Capital Associates. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of (i) SAC Capital Advisors, SAC Capital Management and Mr. Cohen may be deemed to own beneficially 3,652,242 Shares (representing approximately 5.4% of the Shares outstanding), (ii) CR Intrinsic Investors and Mr. Cohen may be deemed to own beneficially 2,000,000 Shares (representing approximately 3.0% of the Shares outstanding) and (iii) Canvas Capital Management and Mr. Cohen may be deemed to own beneficially 342,400 Shares (representing approximately 0.5% of the Shares outstanding). Each of SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors, Canvas Capital Management and Mr. Cohen disclaim beneficial ownership of any of the securities covered by this statement, and SAC Capital Associates disclaims beneficial ownership of any securities held by CR Intrinsic Investments. Page 9 of 11 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: ------ Not Applicable 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: ------------ Not Applicable Item 9 Notice of Dissolution of Group: ------------------------------ Not Applicable Item 10 Certification: ------------- By signing below the signatory certifies that, to the best of his 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. Page 10 of 11 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: January 28, 2008 S.A.C. CAPITAL ADVISORS, LLC By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL MANAGEMENT, LLC By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person CR INTRINSIC INVESTORS, LLC By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person CANVAS CAPITAL MANAGEMENT, LP By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person STEVEN A. COHEN By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person Page 11 of 11 EX-99.1 2 a012808b.txt JOINT FILING AGREEMENT Exhibit 99.1 JOINT FILING AGREEMENT The undersigned hereby agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, and that all subsequent amendments to this statement on Schedule 13G may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. Dated: January 28, 2008 S.A.C. CAPITAL ADVISORS, LLC By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person S.A.C. CAPITAL MANAGEMENT, LLC By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person CR INTRINSIC INVESTORS, LLC By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person CANVAS CAPITAL MANAGEMENT, LP By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person STEVEN A. COHEN By: /s/ Peter Nussbaum ------------------------------------ Name: Peter Nussbaum Title: Authorized Person -----END PRIVACY-ENHANCED MESSAGE-----