UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1 (b), (c) and (d) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(b)
Under the Securities Exchange Act of 1934
Acadia Realty Trust
--------------------------------
(Name of Issuer)
Common Shares of Beneficial Interest, par value $.001
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(Title of Class of Securities)
004239109
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(CUSIP Number)
September 30, 2003
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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)
CUSIP No. 004239109
...................................................................................................................................
1. Names of Reporting Persons.
Cliffwood Partners LLC
I.R.S. Identification Nos. of above persons (entities only):
95-4648555
...................................................................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [ ]
...................................................................................................................................
3. SEC Use Only
...................................................................................................................................
4. Citizenship or Place of Organization Delaware, United States
................................... ...............................................................................................
Number of 5. Sole Voting Power None
Shares ........................................................................................................
Beneficially 6. Shared Voting Power 1,639,200
Owned by ........................................................................................................
Each 7. Sole Dispositive Power None
Reporting ........................................................................................................
Person With 8. Share Dispositive Power 1,639,200
............ ......................................................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,639,200
............ ......................................................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
............ ......................................................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.0% based on 27,136,845 shares outstanding as of August 12, 2003.
............ ......................................................................................................................
12. Type of Reporting Person IA
...................................................................................................................................
2
...................................................................................................................................
1. Names of Reporting Persons.
Cliffwood Equity Fund, L.P.
I.R.S. Identification Nos. of above persons (entities only):
95-4486713
...................................................................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [ ]
...................................................................................................................................
3. SEC Use Only
...................................................................................................................................
4. Citizenship or Place of Organization Delaware, United States
...................................................................................................................................
Number of 5. Sole Voting Power None
Shares ........................................................................................................
Beneficially 6. Shared Voting Power 1,639,200
Owned by ........................................................................................................
Each 7. Sole Dispositive Power None
Reporting ........................................................................................................
Person With 8. Share Dispositive Power 1,639,200
...................................................................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,639,200
...................................................................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
...................................................................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.0% based on 27,136,845 shares outstanding as of August 12, 2003.
...................................................................................................................................
12. Type of Reporting Person PN
3
...................................................................................................................................
1. Names of Reporting Persons.
Cliffwood Absolute Return Strategy, L.P.
I.R.S. Identification Nos. of above persons (entities only):
95-4789951
...................................................................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [ ]
...................................................................................................................................
3. SEC Use Only
...................................................................................................................................
4. Citizenship or Place of Organization Delaware, United States
...................................................................................................................................
Number of 5. Sole Voting Power None
Shares ........................................................................................................
Beneficially 6. Shared Voting Power 1,639,200
Owned by ........................................................................................................
Each 7. Sole Dispositive Power None
Reporting ........................................................................................................
Person With 8. Share Dispositive Power 1,639,200
...................................................................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,639,200
...................................................................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
...................................................................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.0% based on 27,136,845 shares outstanding as of August 12, 2003.
...................................................................................................................................
12. Type of Reporting Person PN
4
...................................................................................................................................
1. Names of Reporting Persons.
Cliffwood Absolute Return Strategy, Ltd.
I.R.S. Identification Nos. of above persons (entities only):
N/A
...................................................................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [ ]
...................................................................................................................................
3. SEC Use Only
...................................................................................................................................
4. Citizenship or Place of Organization Cayman Islands, British West Indies
...................................................................................................................................
Number of 5. Sole Voting Power None
Shares ........................................................................................................
Beneficially 6. Shared Voting Power 1,639,200
Owned by ........................................................................................................
Each 7. Sole Dispositive Power None
Reporting ........................................................................................................
Person With 8. Share Dispositive Power 1,639,200
...................................................................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,639,200
...................................................................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
...................................................................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.0% based on 27,136,845 shares outstanding as of August 12, 2003.
...................................................................................................................................
12. Type of Reporting Person OO
5
...................................................................................................................................
1. Names of Reporting Persons.
Cliffwood Value Equity Fund, L.P.
I.R.S. Identification Nos. of above persons (entities only):
95-4817104
...................................................................................................................................
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [ ]
...................................................................................................................................
53. SEC Use Only
...................................................................................................................................
4. Citizenship or Place of Organization Delaware, United States
...................................................................................................................................
Number of 5. Sole Voting Power None
Shares ........................................................................................................
Beneficially 6. Shared Voting Power 1,639,200
Owned by ........................................................................................................
Each 7. Sole Dispositive Power None
Reporting ........................................................................................................
Person With 8. Share Dispositive Power 1,639,200
...................................................................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,639,200
...................................................................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
...................................................................................................................................
11. Percent of Class Represented by Amount in Row (9)
6.0% based on 27,136,845 shares outstanding as of August 12, 2003.
...................................................................................................................................
12. Type of Reporting Person PN
6
Item 1(a). Name of Issuer:
Acadia Realty Trust
Item 1(b). Address of Issuer's Principal Executive Offices:
1311 Mamaroneck Avenue
White Plains, NY 10605
914-288-8100
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office or, if None, Residence
Item 2(c). Citizenship
Cliffwood Partners LLC
11726 San Vicente Blvd. #600
Los Angeles, CA 90049
Delaware limited liability company
Cliffwood Equity Fund, L.P.
c/o Cliffwood Partners LLC
11726 San Vicente Blvd. #600
Los Angeles, CA 90049
Delaware limited partnership
Cliffwood Absolute Return Strategy, L.P.
c/o Cliffwood Partners LLC
11726 San Vicente Blvd. #600
Los Angeles, CA 90049
Delaware limited partnership
Cliffwood Absolute Return Strategy, Ltd.
c/o CITCO Fund Services (Cayman Islands) Limited
P.O. Box 31106
Corporate Centre
West Bay Road
Grand Cayman, Cayman Islands
British West Indies
Cayman Islands exempted company
Cliffwood Value Equity Fund, L.P.
c/o Cliffwood Partners LLC
11726 San Vicente Blvd. #600
Los Angeles, CA 90049
Delaware limited partnership
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Item 2(d). Title of Class of Securities:
Common Shares of Beneficial Interest, par value $.001 per share
Item 2(e). CUSIP Number:
004239109
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.
(d) | | Investment company registered under Section 8 of the
Investment Company Act.
(e) |X| 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:
Cliffwood Partners LLC
Cliffwood Equity Fund, L.P.
Cliffwood Absolute Return Strategy, L.P.
Cliffwood Absolute Return Strategy, Ltd.
Cliffwood Value Equity Fund, L.P.
Oregon Public Employees Retirement Fund
a. Amount beneficially owned: Cliffwood Equity Fund, L.P.
beneficially owns 29,600 common shares of beneficial interests;
Cliffwood Absolute Return Strategy, L.P. beneficially owns
139,700 common shares of beneficial interests; Cliffwood
Absolute Return Strategy, Ltd. beneficially owns 27,100 common
shares of beneficial interests; Cliffwood Value Equity Fund, L.P.
beneficially owns 1,144,200 shares of common stock, and Oregon
Public Employees Retirement Fund beneficially owns 298,600
common shares of beneficial interests (through an account managed
by Cliffwood Partners LLC), for an aggregate total of 1,639,200
shares of common stock.
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b. Percent of Class: 6.0% based on 27,136,845 shares outstanding as
of August 12, 2003.
The sole power to vote or direct the vote of the entire shareholding and
the sole power to dispose of or direct the disposal of the entire shareholding
has been delegated to Cliffwood Partners LLC for each of Cliffwood Equity
Fund, L.P., Cliffwood Absolute Return Strategy, L.P., Cliffwood Absolute
Return Strategy, Ltd., Cliffwood Value Equity Fund, L.P. and Oregon Public
Employees Retirement Fund's managed account.
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.
Item 10. Certification:
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.
October 10, 2003
-------------------------------
Date
/s/ Carl B. Tash
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Carl B. Tash, CEO
CLIFFWOOD PARTNERS LLC
/s/ Carl B. Tash
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Carl B. Tash, CEO
CLIFFWOOD EQUITY FUND, L.P.
By: Cliffwood Partners LLC, its general partner
/s/ Carl B. Tash
---------------------------
Carl B. Tash, CEO
CLIFFWOOD ABSOLUTE RETURN STRATEGY, L.P.
By: Cliffwood Partners LLC, its general partner
/s/ Carl B. Tash
---------------------------
Carl B. Tash, CEO
CLIFFWOOD ABSOLUTE STRATEGY, LTD.
By: Cliffwood Partners LLC, as investment manager
/s/ Carl B. Tash
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Carl B. Tash, CEO
CLIFFWOOD VALUE EQUITY FUND, L.P.
By: Cliffwood Partners LLC, its general partner
/s/ Carl B. Tash
---------------------------
Carl B. Tash, CEO
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