SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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)
(Amendment No. 3)*
Greenlight Capital Re, Ltd.
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(Name of Issuer)
Class A Ordinary Shares
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(Title of Class of Securities)
G4095J109
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(CUSIP Number)
October 31, 2008
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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
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. G4095J109 13G Page 2 of 12 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Montpellier Investments L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
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5. SOLE VOTING POWER
0
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,000,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,000,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000,000
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) |_|
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.9965%
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12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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Page 2 of 12 Pages
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CUSIP No. G4095J109 13G Page 3 of 12 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Montpellier Resources Ltd.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,000,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,000,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.9965%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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Page 3 of 12 Pages
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CUSIP No. G4095J109 13G Page 4 of 12 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Khronos LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(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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5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,000,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,000,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.9965%
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12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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Page 4 of 12 Pages
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CUSIP No. G4095J109 13G Page 5 of 12 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Zen Group LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,000,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,000,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.9965%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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Page 5 of 12 Pages
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CUSIP No. G4095J109 13G Page 6 of 12 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Rafael Mayer
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) |_|
(b) |X|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
0
-----------------------------------------------------------------
NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY 3,000,000
OWNED BY -----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH -----------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
3,000,000
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS) |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.9965%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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Page 6 of 12 Pages
Item 1.
(a) Name of Issuer.
Greenlight Capital Re, Ltd.
(b) Address of Issuer's Principal Executive Offices.
802 West Bay Road, The Grand Pavilion, Grand Cayman, KY1-1205,
Cayman Islands
Item 2.
(a) Name of Person Filing.
This Schedule 13G is being filed by Montpellier Investments L.P.;
Montpellier Resources Ltd.; Khronos LLC; Zen Group, LLC; and Rafael
Mayer; (collectively, the "Reporting Persons"). See Item 4 below.
(b) Address of Principal Business Office or, if none, Residence.
The principal business address of each of the Reporting Persons is:
Montpellier Investments L.P.; Canon's court, 22 Victoria Street,
Hamilton, HM EX Bermuda
Montpellier Resources Ltd.; Canon's court, 22 Victoria Street,
Hamilton, HM EX Bermuda
Khronos LLC; 2 Grand Central Tower, 140 East 45th Street, 28th
Floor, New York, NY 10017.
Zen Group, LLC; 2 Grand Central Tower, 140 East 45th Street, 28th
Floor, New York, NY 10017.
Rafael Mayer; 2 Grand Central Tower, 140 East 45th Street, 28th
Floor, New York, NY 10017.
(c) Citizenship.
Montpellier Investments L.P.; Bermuda.
Montpellier Resources Ltd.; Bermuda.
Khronos LLC; New York.
Zen Group, LLC; New York.
Rafael Mayer; United States.
(d) Title of Class of Securities.
Class A Ordinary Shares, par value $.10
Page 7 of 12 Pages
(e) CUSIP Number.
G4095J109
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 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.
(e) |_| Investment Adviser in accordance with
Sec. 240.13d-1(b)(1)(ii)(E).
(f) |_| Employee Benefit Plan or Endowment Fund in accordance with
Sec. 240.13d(Y)1(b)(1)(ii)(F).
(g) |_| Parent holding company, in accordance with
Sec. 240.13d-1(b)(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 of 1940.
(j) |_| Group, in accordance with Sec. 240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Sec. 240.13d-1(c), check this box
|X|.
Item 4. Ownership
(a) Amount Beneficially Owned.
Montpellier Investments L.P. - 3,000,000 shares.
Montpellier Resources Ltd. - 3,000,000 shares (Comprised of shares
held by Montpellier Investments L.P. Montpellier Resources Ltd.
holds a majority interest in Montpellier Investments L.P.).
Khronos LLC - 3,000,000 shares (Comprised of shares held by
Montpellier Investments L.P. Khronos LLC is the investment manager
with respect to such shares).
Zen Group, LLC - 3,000,000 shares (Comprised of shares held by
Montpellier Investments L.P. Zen Group LLC is the managing member of
Khronos LLC, which is the investment manager with respect to such
shares).
Rafael Mayer - 3,000,000 shares (Comprised of shares held by
Montpellier Investments L.P. Rafael Mayer is the managing member of
Zen Group LLC, which is the managing member of Khronos LLC, which is
the investment manager with respect to such shares).
(b) Percent of Class.
Montpellier Investments L.P. - 9.9965%.
Montpellier Resources Ltd. - 9.9965%.
Page 8 of 12 Pages
Khronos LLC - 9.9965%.
Zen Group, LLC - 9.9965%.
Rafael Mayer - 9.9965%.
(c) Number of shares as to which each such person has
(i) sole power to vote or to direct the vote: 0 for all Reporting
Persons.
(ii) shared power to vote or to direct the vote:
Montpellier Investments L.P. - 3,000,000 shares.
Montpellier Resources Ltd. - 3,000,000 shares.
Khronos LLC - 3,000,000 shares.
Zen Group, LLC - 3,000,000 shares.
Rafael Mayer - 3,000,000 shares.
(iii) sole power to dispose or to direct the disposition of: 0 for
all Reporting Persons.
(iv) shared power to dispose or to direct the disposition of:
Montpellier Investments L.P. - 3,000,000 shares.
Montpellier Resources Ltd. - 3,000,000 shares.
Khronos LLC - 3,000,000 shares.
Zen Group, LLC - 3,000,000 shares.
Rafael Mayer - 3,000,000 shares.
Page 9 of 12 Pages
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 |_|
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 or
Control Person.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Page 10 of 12 Pages
Item 10. 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.
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.
Date: December 8, 2008
Montpellier Investments L.P.,
by Khronos LLC, its general partner
By: /s/ Rafael Mayer
--------------------------
Title: Managing Director
Montpellier Resources Ltd.
By: /s/ Rafael Mayer
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Title: Director
Khronos LLC
By: /s/ Rafael Mayer
--------------------------
Title: Managing Director
Zen Group, LLC
By: /s/ Rafael Mayer
--------------------------
Title: Managing Member
/s/ Rafael Mayer
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Rafael Mayer
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001).
Page 11 of 12 Pages
EXHIBIT A
The undersigned hereby agree jointly to prepare and file with regulatory
authorities a Schedule 13G and any amendments thereto reporting each of the
undersigned's ownership of securities of Greenlight Capital Re, Ltd. and hereby
affirm that such Schedule 13G is being filed on behalf of each of the
undersigned.
Date: December 8, 2008
Montpellier Investments L.P.,
by Khronos LLC, its general partner
By: /s/ Rafael Mayer
--------------------------
Title: Managing Director
Montpellier Resources Ltd.
By: /s/ Rafael Mayer
--------------------------
Title: Director
Khronos LLC
By: /s/ Rafael Mayer
--------------------------
Title: Managing Director
Zen Group, LLC
By: /s/ Rafael Mayer
--------------------------
Title: Managing Member
/s/ Rafael Mayer
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Rafael Mayer