UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
(Amendment No. 1)*
Resource Capital Corp.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
76120W302
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(CUSIP Number)
December 31, 2006
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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:
[ ] 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).
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CUSIP No. 76120W302 Page 2 of 9 pages
------------------ --- ---
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Rockbay Capital Management, LP
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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
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 100,002
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
100,002
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,002
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.6%
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12 TYPE OF REPORTING PERSON*
PN
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CUSIP No. 76120W302 Page 3 of 9 pages
------------------ --- ---
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
RCM 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
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 100,002
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
100,002
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,002
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.6%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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------------------ --- ---
CUSIP No. 76120W302 Page 4 of 9 pages
------------------ --- ---
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Atul Khanna
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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
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 100,002
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
100,002
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,002
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.6%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
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CUSIP No. 76120W302 Page 5 of 9 pages
------------------ --- ---
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathan Baron
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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
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 100,002
OWNED BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
100,002
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,002
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.6%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
Item 1
(a) Name of Issuer
Resource Capital Corp. (the "Company")
(b): Address of Issuer's Principal Executive Offices
712 Fifth Avenue, 10th Floor
New York, NY 10019
Item 2
(a) Name of Person Filing
This statement is filed by the entities and persons listed below,
who are collectively referred to herein as "Reporting Persons,"
with respect to shares of Common Stock (as defined in Item 2(d)
below) of the Company (the "Shares"):
Investment Manager
------------------
(i) Rockbay Capital Management, LP, a Delaware limited
partnership (the "Investment Manager"), with respect to
the Shares held by certain investment vehicles advised by
the Investment Manager (each a "Rockbay Fund");
General Partner
---------------
(ii) RCM Advisors, LLC, a Delaware limited liability company
(the "General Partner"), which serves as the general
partner of the Investment Manager, with respect to the
Shares held by each of the Rockbay Funds;
Reporting Individuals
---------------------
(iii) Mr. Atul Khanna ("Mr. Khanna"), a United States citizen,
with respect to the Shares held by each of the Rockbay
Funds; and
(iv) Mr. Jonathan Baron ("Mr. Baron"), a United States citizen,
with respect to the Shares held by each of the Rockbay
Funds.
Mr. Khanna and Mr. Baron are collectively referred to as the
"Reporting Individuals."
The Investment Manager serves as the investment manager to each
of the Rockbay Funds. The General Partner serves as the general
partner to the Investment Manager. Mr. Khanna is the Chief
Executive Officer, and Mr. Baron is the Senior Managing Director,
of the General Partner.
(b) Address of Principal Business Office or, if None, Residence
The address of the principal business office of each of the
Reporting Persons is:
600 Fifth Avenue, 24th Floor
New York, NY 10020
(c) Citizenship
Citizenship is set forth in Row 4 of the cover page for each
Reporting Person hereto and is incorporated herein by reference
for each such Reporting Person.
-6-
(d) Title of Class of Securities
Common Stock, $0.001 par value per share ("Common Stock")
(e) CUSIP Number
76120W302
Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(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 in 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 information required by Items 4(a) - (c) is set forth in Rows 5 -
11 of the cover page for each Reporting Person hereto and is
incorporated herein by reference for each such Reporting Person.
The Investment Manager, as investment manager to each of the Rockbay
Funds, may be deemed to be the beneficial owner of all such Shares
owned by the Rockbay Funds. The General Partner, as general partner to
the Investment Manager, may be deemed to be the beneficial owner of
all Shares owned by the Rockbay Funds. Each of the Reporting
Individuals, as an officer of the General Partner with the power to
exercise investment discretion, may be deemed to be the beneficial
owner of all Shares owned by the Rockbay Funds. Each of the Investment
Manager, the General Partner, and the Reporting Individuals hereby
disclaims any beneficial ownership of any such Shares.
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: [X]
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
-7-
Item 9. Notice of Dissolution of Group
Not applicable
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.
-8-
SIGNATURES
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: February 13, 2007
ROCKBAY CAPITAL MANAGEMENT, LP
By: RCM Advisors, LLC
By: /s/ Atul Khanna
--------------------------------
Atul Khanna
Chief Executive Officer
RCM ADVISORS, LLC
By: /s/ Atul Khanna
--------------------------------
Atul Khanna
Chief Executive Officer
/s/ Atul Khanna
------------------------------------
Atul Khanna
/s/ Jonathan Baron
------------------------------------
Jonathan Baron