UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Crystal River Capital, Inc.
(Name of Issuer)
Common Shares, par value $0.001 per share
(Title of Class of Securities)
229393301
(CUSIP Number)
December 31, 2006
(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)
|_| Rule 13d-1(c)
|X| 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 in 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. 229393301 SCHEDULE 13G Page 2 of 11 pages
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--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS/
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brookfield Asset Management Inc.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) |_|
(b) |X| -- Joint filing
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3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario
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5. SOLE VOTING POWER
0
----------------------------------------------------------------
6. SHARED VOTING POWER
NUMBER OF
SHARES 1,806,966
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 7. SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON WITH ---------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,806,966
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,806,966
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not applicable |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.2%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO, HC
--------------------------------------------------------------------------------
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CUSIP No. 229393301 SCHEDULE 13G Page 3 of 11 pages
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--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS/
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Partners Limited
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) |_|
(b) |X| -- Joint filing
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Ontario
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
----------------------------------------------------------------
6. SHARED VOTING POWER
NUMBER OF
SHARES 1,806,966
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 7. SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON WITH ---------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,806,966
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,806,966
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not applicable |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.2%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO, HC
--------------------------------------------------------------------------------
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CUSIP No. 229393301 SCHEDULE 13G Page 4 of 11 pages
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--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS/
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brascan (US) Corporation
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) |_|
(b) |X| -- Joint filing
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
----------------------------------------------------------------
6. SHARED VOTING POWER
NUMBER OF
SHARES 1,006,966
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 7. SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON WITH ---------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
1,006,966
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,006,966
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not applicable |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.0%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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CUSIP No. 229393301 SCHEDULE 13G Page 5 of 11 pages
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1. NAMES OF REPORTING PERSONS/
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Imagine Insurance Company Limited
20191427
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) |_|
(b) |X| -- Joint filing
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Barbados
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
----------------------------------------------------------------
6. SHARED VOTING POWER
NUMBER OF
SHARES 800,000
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 7. SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON WITH ---------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
800,000
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
800,000
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not applicable |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.2%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
--------------------------------------------------------------------------------
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CUSIP No. 229393301 SCHEDULE 13G Page 6 of 11 pages
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--------------------------------------------------------------------------------
1. NAMES OF REPORTING PERSONS/
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Hyperion Brookfield Crystal River Capital Advisors, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) |_|
(b) |X| -- Joint filing
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
0
----------------------------------------------------------------
6. SHARED VOTING POWER
NUMBER OF
SHARES 6,966
BENEFICIALLY ---------------------------------------------------------------
OWNED BY 7. SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON WITH ---------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
6,966
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,966
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not applicable |_|
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Less than 1%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
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CUSIP No. 229393301 SCHEDULE 13G Page 7 of 11 pages
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Item 1(a). Name of Issuer
Crystal River Capital, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices
Three World Financial Center,
200 Vesey Street, 10th Floor
New York, NY 10281-1010
Item 2.
(a) - (c) Name of Person Filing; Address of Principal Business
Office or, if none, Residence; Citizenship
This statement is being filed by:
Brookfield Asset Management Inc., an Ontario, Canada corporation
("BAM");
Partners Limited, an Ontario, Canada corporation ("Partners");
Brascan (US) Corporation, a Delaware corporation ("BUSC");
Imagine Insurance Company Limited, a Bermuda corporation
("Imagine"); and
Hyperion Brookfield Crystal River Capital Advisors, LLC, a Delaware
limited liability company("Hyperion").
The agreement among each of BAM, Partners, BUSC, Imagine and
Hyperion that this Schedule 13G be filed on behalf of each of them is
attached hereto as Exhibit 1.
Partners owns all of BAM's Class B Limited Voting Shares and
approximately 17% of BAM's Class A Limited Voting Shares directly or
indirectly on a fully diluted basis. BUSC is a direct or indirect
wholly-owned subsidiary of BAM, and Hyperion is an indirect wholly-owned
subsidiary of BUSC. Imagine is a direct or indirect majority-owned
subsidiary of BAM. BAM, Partners and BUSC's principal business is located
at BCE Place, 181 Bay Street, Suite 300, P.O. Box 762, Toronto, Ontario
M5J 2T3. Imagine's principal business offices are located at Cedar Court,
2nd Floor, Wildey Business Park, St. Michael, BB14006, Barbados.
Hyperion's principal business offices are located at Three World Financial
Center, 200 Vesey Street, 10th Floor New York, NY 10281-1010.
(d) - (e) Title of Class of Securities; CUSIP Number. This statement
relates to the Common Stock of the Issuer, $.001 value per share. The
CUSIP No. for such shares is 229393301.
Item 3. Not applicable
Item 4. Ownership
(a) - (c). The response of BAM, Partners, BUSC, Imagine and Hyperion
to Items 5, 6, 7, 8, 9 and 11 of each of their respective Cover
Sheets which relate to the beneficial ownership of the Common Stock
of the Issuer is incorporated herein by reference.
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CUSIP No. 229393301 SCHEDULE 13G Page 8 of 11 pages
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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. Certifications
Not applicable
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CUSIP No. 229393301 SCHEDULE 13G Page 9 of 11 pages
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Date: April 30, 2007
BROOKFIELD ASSET MANAGEMENT INC.
By: /s/ Joseph Freedman
-----------------------------
Name: Joseph Freedman
Title: Managing Partner
PARTNERS LIMITED
By: /s/ Loretta M. Corso
-----------------------------
Name: Loretta M. Corso
Title: Secretary
BRASCAN (US) CORPORATION
By: /s/ Barry Blattman
-----------------------------
Name: Barry Blattman
Title: Authorized Signatory
IMAGINE INSURANCE COMPANY LIMITED
By: /s/ George Gleadall
-----------------------------
Name: George Gleadall
Title: Director
By: /s/ Kathy-Ann Christian
-----------------------------
Name: Kathy-Ann Christian
Title: Secretary
HYPERION BROOKFIELD CRYSTAL RIVER
CAPITAL ADVISORS, LLC
By: /s/ John J. Feeney, Jr.
-----------------------------
Name: John J. Feeney, Jr.
Title: President and CEO
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CUSIP No. 229393301 SCHEDULE 13G Page 10 of 11 pages
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EXHIBIT INDEX
Exhibit No.
-----------
1 Joint Filing Agreement, dated April 30, 2007, among BAM, Partners,
BUSC, Imagine and Hyperion.
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CUSIP No. 229393301 SCHEDULE 13G Page 11 of 11 pages
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EXHIBIT 1
JOINT FILING AGREEMENT
We, the signatories of the Statement on Schedule 13G to which this
Agreement is attached, hereby agree that such statement is, and any amendments
thereto filed by any of us will be, filed on behalf of each of us. This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original and all of which together shall constitute one instrument.
Dated: April 30, 2007
BROOKFIELD ASSET MANAGEMENT INC. BRASCAN (US) CORPORATION
By: /s/ Joseph Freedman By: /s/ Barry Blattman
----------------------------- -----------------------------
Name: Joseph Freedman Name: Barry Blattman
Title: Managing Partner Title: Authorized Signatory
PARTNERS LIMITED IMAGINE INSURANCE COMPANY LIMITED
By: /s/ Loretta M. Corso By: /s/ George Gleadall
----------------------------- -----------------------------
Name: Loretta M. Corso Name: George Gleadall
Title: Secretary Title: Director
By: /s/ Kathy-Ann Christian
-----------------------------
Name: Kathy-Ann Christian
Title: Secretary
HYPERION BROOKFIELD CRYSTAL RIVER
CAPITAL ADVISORS, LLC
By: /s/ John J. Feeney, Jr.
-----------------------------
Name: John J. Feeney, Jr.
Title: President and CEO