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 13d-2(b)*
Ares Capital Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
04010L103
(CUSIP Number)
October 5, 2004
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
The information required in the remainder of this cover page shall not be deemed to be "filed" for 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).
CUSIP No.04010L103 13G Page 2 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Hunter Global Associates L.L.C.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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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
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
348,750
OWNED BY ___________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
348,750
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
348,750
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.2%
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(12) TYPE OF REPORTING PERSON ** OO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No.04010L103 13G Page 3 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Hunter Global Investors L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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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
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
1,250,000
OWNED BY ___________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,250,000
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,250,000
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
11.3%
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(12) TYPE OF REPORTING PERSON **
IA
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No.04010L103 13G Page 4 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Duke Buchan III
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
1,250,000
OWNED BY ___________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,250,000
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,250,000
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
11.3%
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(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No.04010L103 13G Page 5 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Hunter Global Investors Fund I L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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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
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
335,000
OWNED BY ___________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
335,000
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
335,000
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.0%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No.04010L103 13G Page 6 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Hunter Global Investors Fund II L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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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
-0-
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
13,750
OWNED BY ___________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
13,750
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
13,750
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.1%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No.04010L103 13G Page 7 of 12 Pages
Item 1(a). Name of Issuer:
The name of the issuer is Ares Capital Corporation (the
"Company").
Item 1(b). Address of Issuer's Principal Executive Offices:
The Company's principal executive offices are located at 780
Third Avenue, 46th Floor, New York, NY, 10017
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) Hunter Global Associates L.L.C., a Delaware
limited liability company ("Associates") (OO)
that is the general partner of Hunter Global
Investors Fund I L.P. ("Fund I") and Hunter
Global Investors Fund II L.P. ("Fund II"), with
respect to the shares of Common Stock (defined
in Item 2(d) below) beneficially owned by Fund
I and Fund II, collectively.
(ii) Hunter Global Investors L.P., a Delaware
limited partnership ("Investors") (IA) that is
the investment manager of Fund I, Fund II,
Hunter Global Investors Offshore Fund Ltd., a
Cayman Islands exempted company ("Off I") and
Hunter Global Investors Offshore Fund II Ltd.,
a Cayman Islands exempted company ("Off II"),
with respect to the shares of Common Stock
beneficially owned by Fund I, Fund II, Off I
and Off II, collectively.
(iii) Duke Buchan III ("Mr. Buchan") (IN), who is the
managing member of Associates and who controls
Investors through its general partner, with
respect to the shares of Common Stock
beneficially owned by Fund I, Fund II, Off I
and Off II, collectively.
(iv) Fund I, a Delaware limited partnership (PN),
with respect to the shares of Common Stock
beneficially owned by it.
(v) Fund II, a Delaware limited partnership (PN),
with respect to the shares of Common Stock
beneficially owned by it.
The foregoing persons are hereinafter collectively
referred to as the "Reporting Persons". Any disclosures herein
with respect to persons other than the Reporting Persons are
made on information and belief after making inquiry to the
appropriate person.
Item 2(b). Address of Principal Business Office or, if none, Residence
The address of the business office of each of the Reporting Persons is 485
Madison Avenue, 22nd Floor, New York, New York 10022.
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CUSIP No.04010L103 13G Page 8 of 12 Pages
Item 2(c). Citizenship
Fund I, Fund II and Investors are each limited partnerships organized under
the laws of the State of Delaware. Associates is a limited liability company
organized under the laws of the State of Delaware. Mr. Buchan is a United States
citizen.
Item 2(d). Title of Class of Securities
Common Stock (the "Common Stock")
Item 2(e). CUSIP Number
04010L103
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a: NOT APPLICABLE
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of
the Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule 13d-1
(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance with
13d-1 (b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person n accordance
with Rule 13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
The percentages used in this Item 4 are calculated based upon 11,067,000
shares of Common Stock issued and outstanding as of October 5, 2004, as reported
on Form 497 filed on October 5, 2004.
A. Hunter Global Associates L.L.C., as general partner of Hunter
Global Investors Fund I L.P. and Hunter Global Investors Fund II L.P.
(a) Amount beneficially owned: 348,750
(b) Percent of class: 3.2%
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CUSIP No.04010L103 13G Page 9 of 12 Pages
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 348,750
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 348,750
B. Hunter Global Investors L.P., as investment manager of Hunter
Global Investors Fund I L.P., Hunter Global Investors Fund II
L.P., Hunter Global Investors Offshore Fund Ltd. and Hunter Global
Investors Offshore Fund II Ltd.
(a) Amount beneficially owned: 1,250,000
(b) Percent of class: 11.3%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,250,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,250,000
C. Duke Buchan III, as senior managing member of Hunter Global Associates
L.L.C., and as the sole member of the general partner of Hunter Global
Investors L.P.
(a) Amount beneficially owned: 1,250,000
(b) Percent of class: 11.3%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,250,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,250,000
D. Hunter Global Investors Fund I L.P.
(a) Amount beneficially owned: 335,000
(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: 335,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 335,000
E. Hunter Global Investors Fund II L.P.
(a) Amount beneficially owned: 13,750
(b) Percent of class: 0.1%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 13,750
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 13,750
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CUSIP No.04010L103 13G Page 10 of 12 Pages
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
Mr Buchan, the senior managing member of Associates and the sole
member of the general partner of Investors, has the power to direct the
affairs of Associates, Investors, Fund I, Fund II, Off I and Off II,
including decisions with respect to the disposition of proceeds from the sale
of the Common Stock.
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
The identity of each member of the group is set forth above under
Item 2(a) and Item 4.
Item 9. Notice of Dissolution of Group
Not applicable.
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CUSIP No.04010L103 13G Page 11 of 12 Pages
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify that, to the best of my 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.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
DATED: October 20,2004 HUNTER GLOBAL ASSOCIATES L.L.C.
By: /s/ Duke Buchan III
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Duke Buchan III
Senior Managing Member
HUNTER GLOPBAL INVESTORS L.P.
By: Hunter Global Capital Management L.L.C.,
its general partner
By: /s/ Duke Buchan III
---------------------------------------
Duke Buchan III
Managing Member
DUKE BUCHAN III
/S/ DUKE BUCHAN III
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HUNTER GLOBAL INVESTORS FUND I L.P.
By: Hunter Global Associates L.L.C., its
general partner
By: /s/ DUKE BUCHAN III
---------------------------------------
Duke Buchan III
Senior Managing Member
HUNTER GLOBAL INVESTORS FUND II L.P.
By: Hunter Global Associates L.L.C., its
general partner
By: /s/ DUKE BUCHAN III
---------------------------------------
Duke Buchan III
Senior Managing Member
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CUSIP No.04010L103 13G Page 12 of 12 Pages
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G, is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G, shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.
DATED: October 20,2004 HUNTER GLOBAL ASSOCIATES L.L.C.
By: /s/ Duke Buchan III
--------------------------------------
Duke Buchan III
Senior Managing Member
HUNTER GLOBAL INVESTORS L.P.
By: Hunter Global Capital Management L.L.C.,
its general partner
By: /s/ Duke Buchan III
--------------------------------------
Duke Buchan III
Managing Member
DUKE BUCHAN III
/s/ Duke Buchan III
-------------------------------------------
HUNTER GLOBAL INVESTORS FUND I L.P.
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By: Hunter Global Associates L.L.C., its general partner
By: /s/ Duke Buchan III
---------------------------------------
Duke Buchan III
Senior Managing Member
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HUNTER GLOBAL INVESTORS FUND II L.P.
By: Hunter Global Associates L.L.C., its
general partner
By: /s/ Duke Buchan III
---------------------------------------
Duke Buchan III
Senior Managing Member
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