SC 13D 1 0001.txt SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 --------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 1) Phoenix Investment Partners, Ltd. --------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 par value --------------------------------------------------------------------- (Title of Class of Securities) 264322108 --------------------------------------------------------------------- (CUSIP Number) Tracy L. Rich, Esq. Phoenix Home Life Mutual Insurance Company One American Row Hartford, CT 06115 (860) 403-5566 --------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 24, 2000 --------------------------------------------------------------------- (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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 4 Pages) ----------------------- ----------------- CUSIP No. 264322108 13D ----------------------- ----------------- ------------------------------------------------------------------------------ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Phoenix Home Life Mutual Insurance Company I.R.S. Employer Identification No. 06-0493340 ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [_] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER 30,754,000 SHARES ------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY ------------------------------------------------------- 9 SOLE DISPOSITIVE POWER EACH 30,754,000 ------------------------------------------------------- REPORTING 10 SHARED DISPOSITIVE POWER PERSON WITH ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 30,754,000 ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 57% ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IC, HC ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (Page 2 of 4 Pages) This Amendment No. 1 to the Schedule 13D originally filed by Phoenix Home Life on November 1, 1995 relating to the Common Stock of the Issuer is being filed by Phoenix Home Life pursuant to Rule 13d-2 of the Securities Exchange Act of 1934 (as amended, the "Act"). ITEM 2, Part III. Directors and Executive Officers Item 2, Part III is hereby amended and supplemented by revision of Exhibit B, which is incorporated in its entirety into this Agreement No. 1 by reference. ITEM 3. Source and Amount of Funds or Other Consideration. Item 3 is hereby amended and supplemented as follows: The potential purchases of Common Stock reported in this Amendment No. 1 and described in Item 4 would be made using available funds of Phoenix Home Life. Item 4. Purpose of Transaction. Item 4 is hereby amended and supplemented as follows: On July 24, 2000, Phoenix Home Life Mutual delivered to the Independent Committee of the Board of Directors of the Issuer (the "Independent Committee") a letter dated July 24, 2000 (the "Proposal Letter") in which Phoenix Home Life offered to purchase all of the issued and outstanding shares of Common Stock of the Issuer not currently owned by Phoenix Home Life for a purchase price of $12.50 per share. Phoenix Home Life anticipates that upon completion of the proposed transaction, it would seek to cause the Common Stock to be delisted from trading on the New York Stock Exchange and to cause the termination of registration of the Common Stock pursuant to Section 12 of the Act. The proposal letter is attached to this Amendment No. 1 as Exhibit E and is incorporated into this Amendment No. 1 by reference in its entirety. On July 24, 2000, Phoenix Home Life issued a press release relating to the events described above. The press release is attached to this Amendment No. 1 as Exhibit F and is incorporated in its entirety into this Amendment No. 1 by reference. There can be no assurance that the proposal will be approved by the Independent Committee of the Board of Directors of the Issuer or if the proposal is approved, that Phoenix Home Life and the Issuer will enter into a definitive merger agreement or that any of the conditions to the consummation of the transaction contemplated by such merger agreement will be satisfied in a timely manner or at all. If Phoenix Home Life is unable to reach an agreement with the Independent Committee of the Board of Directors of the Issuer or any conditions to the consummation of the transaction contemplated by such agreement are not satisfied, Phoenix Home Life may consider alternatives to acquire some or all of the existing publicly held shares of the Issuer. Item 5. Interest in Securities of the Issuer. Item 5 is hereby amended and supplemented as follows: Phoenix Home Life holds 30,754,000 shares of the Issuer's common stock, approximately 57% of the Issuer's outstanding common stock. (Page 3 of 4 Pages) Item 7. Material to be Filed as Exhibits. Item 7 is hereby amended and supplemented as follows: Exhibit B - Current Directors and Executive Officers of Phoenix Home Life Mutual Insurance Company. Exhibit E - Proposal Letter, dated July 24, 2000, from Phoenix Home Life Mutual Insurance Company to the Independent Committee of the Board of Directors of Phoenix Investment Partners, Ltd. Exhibit F - Press Release, dated July 24, 2000, of Phoenix Home Life Mutual Insurance Company. 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. July 25, 2000 PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY /s/ Tracy L. Rich ----------------------------------- By: Tracy L. Rich (Page 4 of 4 Pages) INDEX TO EXHIBITS TO THIS AMENDMENT NO. 1 Exhibit No. Description ----------- ----------- B. Directors and Executive Officers E. Proposal Letter, dated July 24, 2000, from Phoenix Home Life Mutual Insurance Company to the Independent Committee of the Board of Directors of Phoenix Investment Partners, Ltd. F. Press Release dated July 24, 2000, of Phoenix Home Life Mutual Insurance Company
Exhibit B to Schedule 13(d) (Item 2, Part II) Re: Phoenix Investment Partners, Ltd. PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY DIRECTORS =================================================================================================================================== Name Residence Current Occupation/ Certain Criminal Certain Civil Business Address Proceedings Proceedings Citizenship =================================================================================================================================== Sal H. Alfiero 9 Four Winds Way Chairman and CEO None None USA Amherst, NY 14426 Mark IV Industries, Inc. 501 John James Audubon Parkway Amherst, NY 14228 ------------------------------------------------------------------------------------------------------------------------------------ J. Carter Bacot 48 Porter Place Director (retired Chairman & CEO) None None USA Montclair, NJ 07042 The Bank of New York One Wall Street, 10th Floor New York, NY 10286 ------------------------------------------------------------------------------------------------------------------------------------ Arthur P. Byrne 85 Bishop Lane President, CEO & Chairman None None USA Avon, CT 06001 The Wiremold Company 60 Woodlawn Street West Hartford, CT 06110 ------------------------------------------------------------------------------------------------------------------------------------ Richard N. Cooper 33 Washington Avenue Professor None None USA Cambridge, MA 02140 Center for International Affairs Harvard University 1737 Cambridge Street, Room 403 Cambridge, MA 02138 ------------------------------------------------------------------------------------------------------------------------------------ Gordon J. Davis 241 Central Park West Partner None None USA New York, NY 10024 LeBoeuf, Lamb Greene & MacRae 125 West 55th Street New York, NY 10019 ------------------------------------------------------------------------------------------------------------------------------------ Robert W. Fiondella 29 Summerberry Circle Chairman & CEO None None USA Bristol, CT 06010 Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ John E. Haire 12 Searles Road President None None USA Darien, CT 06820 The Fortune Group 1271 Avenue of the Americas New York, NY 10020 ==================================================================================================================================== Page 1 of 5
==================================================================================================================================== Name Residence Current Occupation/ Certain Criminal Certain Civil Business Address Proceedings Proceedings Citizenship ==================================================================================================================================== Jerry J. Jasinowski 3288 Rittenhouse Street, President None None USA N.W. National Association Washington, DC 20015 of Manufacturers 1331 Pennsylvania Avenue, N.W. Suite 600 Washington, DC 20004 ------------------------------------------------------------------------------------------------------------------------------------ John W. Johnstone, Jr. 467 Carter Street Chairman None None USA New Canaan, CT 06840 Governance & Nominating Committees Arch Chemicals, Inc. 191 Post Road West Westport, CT 06880 ------------------------------------------------------------------------------------------------------------------------------------ Marilyn E. LaMarche 930 Fifth Avenue, Limited Managing Director None None USA Apt. 10D Lazard Freres & Co. L.L.C. New York, NY 10021 30 Rockefeller Plaza New York, NY 10020 ------------------------------------------------------------------------------------------------------------------------------------ Philip R. McLoughlin 39 Joshua Drive Chairman & CEO None None USA West Simsbury, CT 06092 Phoenix Investment Partners, Ltd. 56 Prospect Street Hartford, CT 06115 ------------------------------------------------------------------------------------------------------------------------------------ Robert F. Vizza, Ph.D. 3 Maria Lane President & CEO None None USA Old Brookville, NY The DeMatteis Center of St. Francis Hospital Northern Boulevard Old Brookville, NY 11545 ------------------------------------------------------------------------------------------------------------------------------------ Robert G. Wilson Key Colony III, Chairman None None USA Apt. 1127 QuoteShip.com, Inc. 151 Crandon Boulevard 641 Lexington Avenue, 18th Floor Key Biscayne, FL 33149 New York, NY 10022 ------------------------------------------------------------------------------------------------------------------------------------ Dona D. Young 89 Woodford Hills Drive President None None USA Avon, CT 06001 Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ====================================================================================================================================
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PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY EXECUTIVE OFFICERS ==================================================================================================================================== Name Residence Current Occupation/ Certain Criminal Certain Civil Business Address Proceedings Proceedings Citizenship ==================================================================================================================================== Robert W. Fiondella 29 Summerberry Circle Chairman & CEO None None USA Bristol, CT 06010 Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Dona D. Young 89 Woodford Hills Drive President None None USA Avon, CT 06001 Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Carl T. Chadburn 252 Knollwood Road Executive Vice President None None USA Manchester, CT Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Philip R. McLoughlin 39 Joshua Drive Chairman & CEO None None USA West Simsbury, CT 06092 Phoenix Investment Partners, Ltd. 56 Prospect Street Hartford, CT 06115 ------------------------------------------------------------------------------------------------------------------------------------ David W. Searfoss 3 Stratford Road Executive Vice President and Chief None None USA Farmington, CT 06032 Financial Officer Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Michael J. Gilotti 46 Meadow Ridge Senior Vice President None None USA Avon, CT 06001 Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Edward P. Hourihan 17 Chesbro Avenue Senior Vice President, None None USA Noank, CT 06266 Information Systems Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ====================================================================================================================================
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==================================================================================================================================== Name Residence Current Occupation/ Certain Criminal Certain Civil Business Address Proceedings Proceedings Citizenship ==================================================================================================================================== Joseph E. Kelleher 6 Spruce Lane Senior Vice President, None None USA Simsbury, CT 06070 Affiliated Retail Distribution Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Robert G. Lautensack 21 Stillwood Chase Senior Vice President, None None USA Simsbury, CT 06070 Individual Line Financial Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Maura L. Melley 16 Old Oak Road Senior Vice President, None None USA West Hartford, CT 06117 Public Affairs. Phoenix Home Life Mutual Insurance Co One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Charles L. Olson 10 Tallwood Lane Senior Vice President, Trust Sales None None USA Simsbury, CT 06089 and Marketing Phoenix Home Life Mutual Insurance Co. 38 Prospect Street Hartford, CT 06115 ------------------------------------------------------------------------------------------------------------------------------------ Richard R. Paton 394 Geraldine Drive Senior Vice President None None USA Coventry, CT 06238 Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Robert E. Primmer 47 Wyngate Senior Vice President, Independent None None USA Simsbury, CT 06070 Distribution Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Tracy L. Rich 65 North Farms Road Senior Vice President None None USA Avon, CT 06001 and General Counsel Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ====================================================================================================================================
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=================================================================================================================================== Name Residence Current Occupation/ Certain Criminal Certain Civil Business Address Proceedings Proceedings Citizenship ==================================================================================================================================== John F. Solan, Jr. 11 Schuyler Lane Senior Vice President, None None USA Bloomfield, CT 06002 Strategic Development Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Simon Y. Tan 169 Weir Street Executive Vice President None None USA Glastonbury, CT 06033 Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ------------------------------------------------------------------------------------------------------------------------------------ Walter H. Zultowski 6 Winhart Drive Senior Vice President, Marketing None None USA Granby, CT 06035 and Market Research Phoenix Home Life Mutual Insurance Co. One American Row Hartford, CT 06102-5056 ===================================================================================================================================
Page 5 of 5 Exhibit E Proposal Letter, dated July 24, 2000, from Phoenix Home Life Mutual Insurance Company to the Independent Committee of the Board of Directors of Phoenix Investment Partners, Ltd. (Page 1 of 3 Pages) VIA FACSIMILE AND FEDERAL EXPRESS --------------------------------- July 24, 2000 John T. Anderson Chairman of the Independent Committee of the Board of Directors Phoenix Investment Partners, Ltd. Pineboughs Epworth Heights Box 4133 Ludington, MI 49431 Gentlemen: Phoenix Home life Mutual Insurance Company ("PHL") is pleased to offer to purchase all of the outstanding shares of the common stock of Phoenix Investment Partners, Ltd. ("PXP") that it does not currently own (the "Shares") for a cash price of $12.50 per share. As a result of the proposed transaction, PXP would become a wholly-owned subsidiary of PHL. Completion of the proposed transaction would be subject to the approval of the Independent Committee of the Board of Directors of PXP, as well as the full Board of Directors of PXP, and the satisfaction of all applicable regulatory requirements and such other terms and conditions as are customary for a transaction of this type. Upon completion of the proposed transaction, PHL would seek to cause the Shares to be delisted from trading on the New York Stock Exchange and to be deregistered under the Securities Exchange Act of 1934, as amended. We believe that this offer is fair to, and in the best interests of, PXP and its public stockholders. The offered price of $12.50 per share represents a premium of 16.3% over the closing price of the Shares on the New York Stock Exchange on July 24, 2000, and a 33.1% premium over the average closing price for the Shares for the preceding 90 days. In considering this offer, please note that PHL is interested only in acquiring the publicly held shares, and is not interested in selling its interest in PXP. (Page 2 of 3 Pages) We reserve the right to rescind or amend this offer at any time prior to its acceptance by the Board of Directors of PXP and the execution and delivery by each of PHL and PXP of a definitive agreement providing for the acquisition of the Shares by PHL. We hope that you give this offer your prompt attention. We are available to meet with you and your advisors to discuss this offer at your convenience. We look forward to hearing from you, and working together with you on this transaction. Sincerely, Tracy L. Rich cc: J. Chapman D. Searfoss (Page 3 of 3 Pages) Exhibit F Phoenix Home Life Mutual Insurance Company One American Row P.O. Box 5056 Hartford CT 06102-5056 Internet: www.phoenixwm.com [GRAPHIC OMITTED] PHOENIX NEWS RELEASE For: Immediate Release Contact: Michele U. Farley 860-403-5393 Jon Sandberg 860-403-5066 PHOENIX OFFERS TO PURCHASE PXP REMAINING SHARES HARTFORD, CONN., JULY 24, 2000 - Phoenix Home Life Mutual Insurance Company today announced that it has offered $12.50 cash per share to purchase the remaining outstanding common shares (approximately 41 percent or 18 million shares as of June 30, 2000) it does not already own in Phoenix Investment Partners (PXP). A committee of independent directors of PXP's board will review the offer and make a recommendation to shareholders. If the offer is consummated, PXP would become a wholly owned Phoenix company. The Phoenix offer represents a 16.3 percent premium over the closing price on the New York Stock Exchange on July 24, 2000, and a 33.1 percent premium over the average closing price for the preceding 90 days. PXP is a leading, publicly traded U.S. investment management company, with assets under management at the end of the first quarter of $66 billion. "We believe this offer serves the best interests of both Phoenix and PXP's constituencies," said Robert W. Fiondella, chairman and chief executive officer of Phoenix. "Our offer provides immediate enhanced value to PXP shareholders. It is our intention that PXP will continue to operate independently as it does now, and we will continue to respect the unique expertise and needs of each business. But the transaction will also allow us to work more collaboratively as we execute our wealth management strategy and to fully capitalize on our exceptional collective capabilities." (Page 1 of 2 Pages) Phoenix's wealth management strategy centers on developing innovative and competitive products that offer accumulation, preservation and transfer solutions delivered to the affluent and high net worth through a multifaceted distribution system that provides value-added support to advisors serving this market. Mr. Fiondella pointed out that Phoenix has been in the investment management business since 1970. In 1995, Phoenix made the decision to develop this business further and established PXP as a public company. PXP has successfully developed its multiple manager program by acquiring top investment management firms that access a common platform of administrative and distribution support. Today, PXP offers a diversified asset mix and a broad range of investment styles and products to retail and institutional clients. "As PXP's Chairman and CEO, Phil McLoughlin has led his management team to produce strong earnings and excellent performance. Phil will continue to lead PXP and work even more closely with us to develop further the wealth management strategy that will guide our continued growth and development," he said. The offer is subject to customary terms and conditions, including regulatory approvals, approval of Phoenix's and PXP's Boards of Directors and PXP shareholders. Phoenix reserves the right to amend or withdraw the proposal at any time in its sole discretion. Phoenix stated in its proposal that it is not interested, under any circumstances, in selling its interest in PXP. Phoenix provides wealth management strategies through its insurance, investment management and trust services. Listed in the Fortune 500, it is one of the nation's largest mutual life insurers and a leading money manager through Phoenix Investment Partners, Ltd. Trust services are offered by Phoenix Charter Oak Trust Company. Phoenix, with corporate offices in Hartford, Conn., was founded in 1851. For more information on Phoenix, visit www.phoenixwm.com. #### (Page 2 of 2 Pages)