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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13D-1(B), (C) AND (D) AND AMENDMENTS THERETO FILED
PURSUANT TO 13D-2(B)
(AMENDMENT NO. 2)*
CAPITAL TRUST, INC.
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(NAME OF ISSUER)
CLASS A COMMON STOCK,
PAR VALUE $0.01 PER SHARE 14052H100
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(TITLE OF CLASS OF SECURITIES) (CUSIP NUMBER)
DECEMBER 31, 2002
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(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[x] Rule 13d-1(b)
[_] Rule 13d-1(c)
[_] Rule 13d-1(d)
*The remainder of this cover page should 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 is the remainder of this cover page shall not be deemed
to be "filed" for the purposes 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).
(Continued on following page(s))
(Page 1)
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CUSIP No. 14052H100 13G Page 2
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1 NAMES OF REPORTING PERSONS: GENERAL MOTORS INVESTMENT MANAGEMENT CORPORATION
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY):
------------------------ ----------------------------------------------------------------------------------- ---------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
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NUMBER OF 5 SOLE VOTING POWER: 1,424,474 (1)
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
----- ---------------------------------------- -----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 1,424,474 (1)
REPORTING
----- ---------------------------------------- -----------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 0
------------------------ --------------------------------------------------- -----------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 1,424,474 (1)
REPORTING PERSON:
------------------------ ----------------------------------------------------------------------------------- ---------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [_]
------------------------ ----------------------------------------------------------------------------------- ---------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 20.8% (1) (2) (3)
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12 TYPE OF REPORTING PERSON: IA
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(1) Consists of 1,424,474 shares which may be acquired upon conversion of the
securities described in Item 4.
(2) Assumes issuance of 1,424,474 shares upon conversion of the securities
described in Item 4.
(3) Based upon 5,425,678 shares outstanding as of May 13, 2003 as reported in
Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31,
2003 filed with the Securities and Exchange Commission on May 15, 2003.
2
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CUSIP No. 14052H100 13G Page 3
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1 NAMES OF REPORTING PERSONS: GENERAL MOTORS EMPLOYES GLOBAL GROUP PENSION TRUST
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY):
------------------------ ----------------------------------------------------------------------------------- ---------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
------------------------ ----------------------------------------- ---------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK
----------------------------- ----- ---------------------------------------- -----------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------- -----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
----- ---------------------------------------- -----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------- -----------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 0
------------------------ --------------------------------------------------- -----------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 99,713 (1)
REPORTING PERSON:
------------------------ ----------------------------------------------------------------------------------- ---------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [_]
------------------------ ----------------------------------------------------------------------------------- ---------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.8% (1) (2) (3)
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12 TYPE OF REPORTING PERSON: EP
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(1) Consists of 99,713 shares which may be acquired upon conversion of the
securities described in Item 4.
(2) Assumes issuance of 99,713 shares upon conversion of the securities
described in Item 4.
(3) Based upon 5,425,678 shares outstanding as of May 13, 2003 as reported in
Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31,
2003 filed with the Securities and Exchange Commission on May 15, 2003.
3
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CUSIP No. 14052H100 13G Page 4
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1 NAMES OF REPORTING PERSONS: GMAM GROUP PENSION TRUST II
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY):
------------------------ ----------------------------------------------------------------------------------- ---------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK
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NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
----- ---------------------------------------- -----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER: 0
OWNED BY
----- ---------------------------------------- -----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
----- ---------------------------------------- -----------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER: 0
------------------------ --------------------------------------------------- -----------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 1,324,761 (1)
REPORTING PERSON:
------------------------ ----------------------------------------------------------------------------------- ---------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [_]
------------------------ ----------------------------------------------------------------------------------- ---------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 19.6% (1) (2) (3)
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12 TYPE OF REPORTING PERSON: EP
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(1) Consists of 1,324,761 shares which may be acquired upon conversion of the
securities described in Item 4.
(2) Assumes issuance of 1,324,761 shares upon conversion of the securities
described in Item 4.
(3) Based upon 5,425,678 shares outstanding as of May 13, 2003 as reported in
Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31,
2003 filed with the Securities and Exchange Commission on May 15, 2003.
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SCHEDULE 13G
Explanatory Note: This Amendment No. 2 is being filed to reflect the transfer by
the General Motors Employes Global Group Pension Trust of a portion of the
securities of the Issuer held by it to the GMAM Group Pension Trust II.
ITEM 1
(a) NAME OF ISSUER:
CAPITAL TRUST, INC., a Maryland corporation.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
410 Park Avenue, 14th Floor
New York, NY 10022
ITEM 2
(a) NAME OF PERSON FILING:
(1) General Motors Employes Global Group Pension Trust (the "Global
Trust")
(2) GMAM Group Pension Trust II (the "GMAM Trust")
(3) General Motors Investment Management Corporation ("GMIMCo")
The Global Trust, the GMAM Trust and GMIMCo are referred to herein collectively
as the "Reporting Persons." A joint filing agreement of the Reporting Persons is
attached hereto as Exhibit I.
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
(1) The Global Trust: c/o State Street Bank and Trust Company
1 Enterprise Drive
North Quincy, MA 02171
(2) The GMAM Trust: c/o JPMorgan Chase Bank
3 Chase MetroTech Center - 5th Floor
Brooklyn, New York 11245
(3) GMIMCo: 767 Fifth Avenue
New York, New York 10153
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(c) CITIZENSHIP:
(1) The Global Trust: New York
(2) The GMAM Trust: New York
(3) GMIMCo: Delaware
(d) TITLE OF CLASS OF SECURITIES:
Class A Common Stock, par value $0.01 per share
(e) CUSIP NUMBER: 14052H100
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR RULE 13D-2(B)
OR (C), CHECK WHETHER THE PERSON FILING IS A:
(1) The Global Trust - (f) [x] An employee benefit plan or
endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F).
(2) The GMAM Trust - (f) [x] An employee benefit plan or
endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F).
(3) GMIMCo - (e) [x] an investment adviser in accordance
with Rule 13d-1(b) (1) (ii) (E).
ITEM 4 OWNERSHIP.
The Reporting Persons do not own any Class A Common Stock. Their beneficial
ownership results from their ownership of Step Up Convertible Trust Preferred
Securities issued by CT Convertible Trust I (and not by the Issuer) (the
"Preferred Securities"). The Preferred Securities may be converted into 8.25%
Step Up Convertible Junior Subordinated Debentures of the Issuer (the
"Debentures") at the rate of one Preferred Security for each $1,000 principal
amount of Debentures, and the Debentures are convertible into Class A Common
Stock of the Issuer at an initial rate of 85.47 shares per $1,000 principal
amount of Debentures, subject to antidilution adjustments.
(a) Amount Beneficially Owned:
(1) The Global Trust: 99,713 shares {1}
(2) The GMAM Trust: 1,324,761 shares{1}
(3) GMIMCo: 1,424,474 shares{1}
(b) Percent of Class (based upon 5,425,678 shares outstanding as of May 13,
2003 as reported in Issuer's Quarterly Report on Form 10-Q for the
quarterly period ended March 31, 2003 filed with the Securities and
Exchange Commission on May 15, 2003):
(1) The Global Trust: {1}
(2) The GMAM Trust: {1}
(3) GMIMCo: {1}
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote {2}
(1) The Global Trust: 0
(2) The GMAM Trust: 0
(3) GMIMCo: 1,424,474
(ii) Shared power to vote or to direct the vote -0-
(iii) Sole power to dispose or to direct the disposition of {2}
(1) The Global Trust: 0
(2) The GMAM Trust: 0
(3) GMIMCo: 1,424,474
(iv) Shared power to dispose or to direct the disposition of -0-
{1} Each of the Global Trust and the GMAM Trust is a pension trust formed
pursuant to the laws of the of the State of New York for the benefit of
certain employee benefit plans of General Motors Corporation ("GM"), its
subsidiaries and unrelated employers. These shares may be deemed to be
owned beneficially by GMIMCo, a wholly-owned subsidiary of GM. GMIMCo is
registered as an investment adviser under the Investment Advisers Act of
1940, as amended. GMIMCo's principal business is providing investment
advice and investment management services with respect to the assets of
certain employee benefit plans of GM, its subsidiaries and unrelated
employers, and with respect to the assets of certain direct and indirect
subsidiaries of GM and associated entities. GMIMCo is serving as
investment manager with respect to these shares and in that capacity it
has the sole power to direct JPMorgan Chase Bank, as Trustee for the
GMAM Trust, and State Street Bank and Trust Company, as Trustee for the
Global Trust (together, the "Trustees"), as to the voting and
disposition of these shares. Because of the Trustees' limited role,
beneficial ownership of the shares by the Trustees is disclaimed.
{2} Each of the Global Trust and the GMAM Trust invests in a variety of
investment media, including publicly traded and privately placed
securities. Such investments could include Common Stock and/or other
securities of the Issuer in addition to those referred to in this
Statement ("Additional Securities"). The investment and voting decisions
regarding any Additional Securities which might be owned by the Global
Trust or the GMAM Trust are made by the Trustees or unrelated investment
managers who, in so acting, act independently of the Reporting Persons
(although the appointment of the Trustees and the investment managers is
subject to the authorization of GMIMCo). The Reporting Persons do not
have or share voting power or investment power over any Additional
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Securities which might be held by the Global Trust or the GMAM Trust. No
information regarding any such holdings by the Global Trust or the GMAM
Trust is contained in this Statement.
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.
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.
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ITEM 10 CERTIFICATIONS.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the
ordinary course of business and 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.
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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: May 29, 2003
State Street Bank and Trust Company, as trustee for
GENERAL MOTORS EMPLOYES GLOBAL GROUP PENSION TRUST
(as directed by General Motors Investment Management
Corporation)
By: /s/ Michael Connors
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Name: Michael Connors
Title: Vice President
JPMorgan Chase Bank, as trustee for
GMAM GROUP PENSION TRUST II
(as directed by General Motors Investment Management
Corporation)
By: /s/ John F. Weeda
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Name: John F. Weeda
Title: Vice President
GENERAL MOTORS INVESTMENT MANAGEMENT CORPORATION
By: /s/ Thomas E. Dobrowski
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Name: Thomas E. Dobrowski
Title: Managing Director
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