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13D
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________________
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. __)*
TENNENBAUM OPPORTUNITIES PARTNERS V, LP
(Name of Issuer)
Series A Cumulative Preferred Interests
(Title of Class of Securities)
N/A
(CUSIP Number)
Bank of America Corporation
Bank of America Corporate Center
100 N. Tryon Street, 25th Floor
Charlotte, North Carolina 28255
(704) 386-7839
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 27, 2006
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement
on Schedule 13G to report the acquisition that is the
subject of this Schedule 13D, and is filing this schedule
because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a
signed original and five copies of the schedule,
including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
___________________________
*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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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
BANK OF AMERICA CORPORATION 56-0906609
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
[ ]
(b)
[ ]*
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
4,743.4086
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
------------------------------------------------
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8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
4,743.4086
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
4,743.4086
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.2%
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14 TYPE OF REPORTING PERSON
CO
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
NB HOLDINGS CORPORATION 56-1857749
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
[ ]
(b)
[ ]*
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
4,743.4086
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
------------------------------------------------
------------------------------------------------
8 SHARED VOTING POWER
0
------------------------------------------------
------------------------------------------------
9 SOLE DISPOSITIVE POWER
4,743.4086
------------------------------------------------
------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------
-----------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
4,743.4086
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-----------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.2%
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14 TYPE OF REPORTING PERSON
CO
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
BANK OF AMERICA, NATIONAL ASSOCIATION
94-1687665
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
[ ]
(b)
[ ]*
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
4,743.4086
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
------------------------------------------------
------------------------------------------------
8 SHARED VOTING POWER
0
------------------------------------------------
------------------------------------------------
9 SOLE DISPOSITIVE POWER
4,743.4086
------------------------------------------------
------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------
-----------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
4,743.4086
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-----------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.2%
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14 TYPE OF REPORTING PERSON
BK
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.
Item 1. Security and Issuer.
This statement on Schedule 13D (the "Schedule 13D")
relates to the Series A Cumulative Preferred Interests
(the "Preferred Interests") of Tennenbaum Opportunities
Partners V, LP, a Delaware limited partnership (the
"Issuer"). The principal executive offices of the Issuer
are located c/o Tennenbaum Capital Partners, LLC, 2951
28th Street, Suite 1000, Santa Monica, California 90405.
Item 2. Identity and Background.
This Statement is being filed pursuant to Rule
13d-1(a) of the Securities Exchange Act of 1934, as
amended, by Bank of America Corporation, a Delaware
corporation ("Bank of America"), NB Holdings Corporation,
a Delaware corporation ("NB Holdings") and Bank of
America, National Association, ("BANA"; Bank of America,
NB Holdings and BANA shall be referred to herein in the
aggregate as the "Reporting Persons").
Bank of America is a bank holding company registered
under the Bank Holding Company Act of 1956, as amended,
and is engaged in the general banking and financial
services business through its subsidiaries.
NB Holdings Corporation is a holding company engaged
in the business of being the intermediate holding company
of BANA.
BANA is a banking association chartered with the
Office of the Comptroller of the Currency, is engaged in
the business of being a full-service commercial bank.
The principal address of the Reporting Persons is
Bank of America Corporate Center, 100 N. Tryon Street,
Charlotte, North Carolina 28255.
Information concerning each executive officer,
director and controlling person of each of the Reporting
Persons (the "Listed Persons") is listed on Schedule I
attached hereto, and is incorporated by reference herein.
To the knowledge of the Reporting Persons, all of the
Listed Persons are citizens of the United States.
Other than as set forth on Schedule II, during the
last five years, none of the Reporting Persons, and to
the best knowledge of the Reporting Persons, none of the
Listed Persons, has been convicted in a criminal
proceeding (excluding traffic violations or similar
misdemeanors) or was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction
as a result of which such person was or is subject to a
judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities
subject to, federal or state securities laws, or finding
any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other
Consideration
BANA acquired the Preferred Shares for $94,868,172.00
using its working capital.
Item 4. Purpose of Transaction
BANA acquired the Preferred Interests for investment
purposes.
Item 5. Interest in Securities of the Issuer
(a) BANA directly beneficially owns, NB Holdings may
be deemed to own by virtue of its being the parent
company of BANA, and Bank of America may be deemed to
beneficially own by virtue of its being the parent
company of NB Holdings, 4,743.4086 shares of Preferred
Interests, representing approximately 39.2% of the
outstanding Preferred Interests.
Except as set forth in this Item 5(a), the Reporting
Persons do not beneficially own any Preferred Interests.
(b) BANA has sole power, NB Holdings may be deemed
to have sole power by virtue of its being the parent
company of BANA, and Bank of America may be deemed to
have sole power by virtue of its being the parent company
of NB Holdings, to vote or direct the vote and to dispose
or to direct the disposition of the Preferred Interests
reported hereby.
(c) The Preferred Interests identified in Item 5(a)
hereof were acquired on December 27, 2006. Except as
identified in the preceding sentence, the Reporting
Persons have not effected any transaction in the
Preferred Interests during the past 60 days.
(d) Not applicable.
(e) Not applicable.
Item 6 Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
Not applicable
Item 7. Material to Be Filed as Exhibits
Exhibit Name
99.1 Joint Filing Agreement, dated as of January 5,
2007 by and among the Reporting Persons
SIGNATURE
After reasonable inquiry and to the best of the
knowledge and belief of each of the undersigned, each of
the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: January 5, 2007
BANK OF AMERICA CORPORATION
NB HOLDINGS CORPORATION
BANK OF AMERICA, NATIONAL
ASSOCIATION
By: /s/ Charles F. Bowman
Name: Charles F. Bowman
Title: Senior Vice President
SCHEDULE I
EXECUTIVE OFFICERS AND DIRECTORS OF THE REPORTING PERSONS
The following sets forth the name, business address, and
present principal occupation of each executive officer
and director of Bank of America Corporation.
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Name Position with Principal Occupation
Bank of America
Corporation
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Kenneth D. Chairman, Chief Chairman, Chief
Lewis Executive Executive Officer and
Officer, President of Bank of
President and America Corporation
Director
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Liam E. McGee President, President, Global
Global Consumer Consumer and Small
and Small Business Banking of
Business Banking Bank of America
Corporation
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Brian T. President, President, Global
Moynihan Global Wealth Wealth and Investment
and Investment Management of Bank of
Management America Corporation
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R. Eugene Vice Chairman, Vice Chairman,
Taylor President, President, Global
Global Corporate Corporate and
and Investment Investment Banking of
Banking Bank of America
Corporation
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Joe L. Price Chief Financial Chief Financial
Officer Officer of Bank of
America Corporation
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Amy Woods Global Risk Global Risk Executive
Brinkley Executive of Bank of America
Corporation
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Barbara J. Global Global Technology,
Desoer Technology, Service and
Service and Fulfillment Executive
Fulfillment of Bank of America
Executive Corporation
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William Director Chairman, President
Barnet, III and Chief Executive
Officer of The Barnet
Company
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Frank P. Director Former Executive
Bramble, Sr. Officer of MBNA
Corporation
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John T. Director Chief Executive
Collins Officer of The Collins
Group, Inc.
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Gary L. Director Chairman Emeritus of
Countryman Liberty Mutual Group
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Tommy R. Director Retired General,
Franks United States Army
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Paul Fulton Director Chairman of Bassett
Furniture Industries,
Inc.
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Charles K. Director Former Chairman of
Gifford Bank of America
Corporation
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W. Steven Director Dean of Kenan-Flagler
Jones Business School,
University of North
Carolina at Chapel Hill
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Monica Lozano Director Publisher and Chief
Executive Officer of
La Opinion
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Walter E. Director President of Morehouse
Massey College
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Thomas J. May Director Chairman of President
and Chief Executive
Officer, NSTAR
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Patricia E. Director President and Chief
Mitchell Executive Officer of
The Museum of
Television and Radio
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Thomas M. Ryan Director Chairman, President
and Chief Executive
Officer of CVS
Corporation
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O. Temple Director Chairman of the
Sloan, Jr. International Group,
Inc.
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Meredith R. Director Director of C.D.
Spangler Spangler Construction
Company, Chairman of
the Board of C.D.
Spangler Foundation,
Trustee of Wellesley
College Board of
Trustees
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Robert L. Director Chairman and CEO
Tillman Emeritus of Lowe's
Companies, Inc.
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Jackie M. Ward Director Retired Chairman/CEO,
Computer Generation
Incorporated
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The following sets forth the name, business address, and
present principal occupation of each executive officer
and director of NB Holdings Corporation.
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Name Position with NB Principal Occupation
Holdings
Corporation
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Kenneth D. Chairman, Chief Chairman, Chief
Lewis Executive Executive Officer and
Officer, President of Bank of
President and America Corporation
Director
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Gregory L. President Global Corporate
Curl Planning and Strategic
Executive of Bank of
America Corporation
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Joe L. Price Chief Financial Chief Financial
Officer and Officer of Bank of
Director America Corporation
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Amy Woods Global Risk Global Risk Executive
Brinkley Executive and of Bank of America
Director Corporation
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The following sets forth the name, business address, and
present principal occupation of each executive officer
and director of Bank of America, National Association.
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Name Position with Principal Occupation
Bank of America,
National
Association
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R. Eugene Director and Vice Chairman,
Taylor Vice Chairman President, Global
Corporate and
Investment Banking of
Bank of America
Corporation
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Liam E. McGee Director and President, Global
President, Consumer and Small
Global Consumer Business Banking of
and Small Bank of America
Business Banking Corporation
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Brian T. Director and President, Global
Moynihan President, Wealth and Investment
Global Wealth Management of Bank of
and Investment America Corporation
Management
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R. Eugene Director and Vice Chairman,
Taylor President, President, Global
Global Corporate Corporate and
and Investment Investment Banking of
Banking Bank of America
Corporation
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Joe L. Price Director and Risk Management
Chief Financial Executive, Global
Officer Corporation and
Investment Banking of
Bank of America
Corporation
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Amy Woods Director and Global Risk Executive
Brinkley Global Risk of Bank of America
Executive Corporation
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Barbara J. Director and Global Technology,
Desoer Global Service and
Technology Fulfillment Executive
Service and of Bank of America
Fulfillment Corporation
Executive
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Kenneth D. Chairman, Chief Chairman, Chief
Lewis Executive Executive Officer and
Officer and President of Bank of
President America Corporation
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SCHEDULE II
BANK OF AMERICA CORPORATION ("BANK OF AMERICA") ENTERED
INTO A CIVIL SETTLEMENT AGREEMENT WITH THE NEW YORK
COUNTY (NEW YORK) DISTRICT ATTORNEY ON SEPTEMBER 28,
2006. THE AGREEMENT PROVIDES THAT, FROM ABOUT 2002 TO
2004, BANK OF AMERICA HAD DEFICIENCIES IN CERTAIN
INTERNAL ANTI-MONEY LAUNDERING CONTROLS AND FAILED TO
REACT APPROPRIATELY TO THE RISK PRESENTED BY CERTAIN
SOUTH AMERICAN MONEY SERVICES BUSINESS CUSTOMERS, WHO
MOVED FUNDS ILLEGALLY THROUGH BANK OF AMERICA. THE
AGREEMENT REQUIRES BANK OF AMERICA TO MAKE A TOTAL
PAYMENT OF $7.5 MILLION, TO COOPERATE WITH THE DISTRICT
ATTORNEY IN ONGOING INVESTIGATIONS, AND TO ABIDE BY
ANTI-MONEY LAUNDERING CHANGES RECOMMENDED BY BANK OF
AMERICA'S REGULATORS.
THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM AND
THE RESERVE BANK REVIEWED CERTAIN ACTIVITIES OF BANK OF
AMERICA'S WEALTH AND INVESTMENT MANAGEMENT GROUP. THE
RESERVE BANK RAISED CONCERNS THAT BANK OF AMERICA AND ITS
SUBSIDIARIES DID NOT ADEQUATELY ASSESS THE LEGAL AND
REPUTATIONAL RISKS POSED BY CERTAIN MUTUAL FUND TRADING
ACTIVITIES AND ADDRESS FLAWS IN COMPLIANCE AND RISK
MANAGEMENT PERTAINING TO THE ASSET MANAGEMENT LINES OF
BUSINESS. FOLLOWING THAT REVIEW, THE BANK AND THE RESERVE
BANK EXECUTED A WRITTEN AGREEMENT TO ENSURE THAT THE BANK
AND ITS SUBSIDIARIES MAKE PROGRESS IN THEIR EFFORTS TO
ADOPT AND IMPLEMENT NUMEROUS CORRECTIVE ACTIONS AND BEST
PRACTICE RECOMMENDATIONS. BANK OF AMERICA HAS AGREED TO
CONTINUE TO TAKE STEPS TO ADOPT AND IMPLEMENT CORRECTIVE
ACTIONS AND BEST PRACTICE RECOMMENDATIONS OF THE
INDEPENDENT CONSULTANTS AND TO ENHANCE THE
ENTERPRISE-WIDE COMPLIANCE PROGRAM TO ENSURE COMPLIANCE
WITH ALL APPLICABLE LAWS AND REGULATIONS, INCLUDING BUT
NOT LIMITED TO SECURITIES LAWS AND REGULATIONS INCLUDING,
AMONG OTHER THINGS, A PROCESS FOR RESOLVING OR ESCALATING
COMPLIANCE ISSUES, ONGOING TRAINING ON POLICIES AND
PROCEDURES FOR COMPLIANCE WITH LAWS AND REGULATIONS FOR
CERTAIN STAFF OF BANK OF AMERICA AND ITS SUBSIDIARIES,
ENSURE PROCESSES FOR AN ENHANCED APPROVAL PROCESS FOR NEW
CLIENTS, NEW OR UNIQUE INVESTMENT PRODUCTS, SERVICES OR
TRANSACTIONS, AND MATERIAL CHANGES TO EXISTING PRODUCTS
OR SERVICES, PROCEDURES TO ENSURE THOROUGH ASSESSMENT OF
RISKS, POLICIES AND PROCEDURES TO ENSURE PRODUCTS,
SERVICES AND ARRANGEMENTS ARE CONSISTENT WITH BUSINESS
EXPERTISE, STRATEGY AND APPROVED RISK PROFILE, PROCEDURES
FOR INTERNAL AUDIT, MECHANISMS FOR PERIODIC REVIEWS,
MONITORING OF ENTERPRISE-WIDE ADOPTION AND EXECUTION OF
NEW POLICIES AND PROCEDURES AND OTHER RECOMMENDATIONS OF
THE INDEPENDENT CONSULTANTS, AND SUBMISSION OF PROGRESS
REPORTS TO RESERVE BANK.
THE SECURITIES AND EXCHANGE COMMISSION (THE "SEC") FOUND
THAT IN 1997 AND 1998, BANKAMERICA CORPORATION
("BANKAMERICA"), PREDECESSOR OF BANK OF AMERICA, VIOLATED
VARIOUS EXCHANGE ACT ACCOUNTING AND REPORTING PROVISIONS
WITH RESPECT TO A BUSINESS ALLIANCE BETWEEN BANKAMERICA
AND D.E. SHAW SECURITIES GROUP, L.P. AND RELATED
ENTITIES. ON JULY 30, 2001, WITHOUT ADMITTING OR DENYING
THE ALLEGATIONS, CHARGES OR FINDINGS, BANK OF AMERICA
CONSENTED TO ENTRY OF AN ADMINISTRATIVE ORDER PROVIDING
THAT IT CEASE AND DESIST FROM COMMITTING OR CAUSING ANY
FUTURE VIOLATIONS OF THE EXCHANGE ACT ACCOUNTING AND
REPORTING PROVISIONS CITED IN THE SEC'S ALLEGATIONS. ON
JULY 30, 2001, THE SEC FOUND THAT, IN 1997 AND 1998,
BANKAMERICA (I) INCORRECTLY ACCOUNTED FOR A FINANCIAL
RELATIONSHIP, AND (II) MADE INADEQUATE DISCLOSURES
RELATED TO RISK IN EXCHANGE ACT REPORT FILINGS WITH THE
SEC, IN CONNECTION WITH A BUSINESS ALLIANCE WITH D.E.
SHAW SECURITIES GROUP, L.P. AND RELATED ENTITIES. ON THE
SAME DATE, WITHOUT ADMITTING OR DENYING THE SEC'S
ALLEGATIONS, CHARGES OR FINDINGS, BANK OF AMERICA
CONSENTED TO ENTRY OF AN ADMINISTRATIVE ORDER PROVIDING
THAT IT CEASE AND DESIST FROM COMMITTING OR CAUSING ANY
FUTURE VIOLATIONS OF THE EXCHANGE ACT ACCOUNTING AND
REPORTING PROVISIONS CITED IN THE SEC'S ALLEGATIONS.
Exhibit 99.1
JOINT FILING AGREEMENT
JOINT FILING AGREEMENT, dated as of the 5th day
of January, 2007, between (i) Bank of America
Corporation, (ii) NB Holdings Corporation and (iii) Bank
of America, National Association (collectively, the
"Joint Filers").
WHEREAS, pursuant to Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), the parties hereto desire to satisfy any
filing obligation under Section 13(d) of the Exchange Act
by a single joint filing;
NOW, THEREFORE, in consideration of the premises
and the mutual covenants herein contained, the Joint
Filers hereby agree and represent as follows:
1. The Schedule 13D with respect to the Series
A Cumulative Preferred Interests of Tennenbaum
Opportunities Partners V, LP, a Delaware limited
partnership (to which this Joint Filing Agreement is an
exhibit) is filed on behalf of each of the Joint Filers.
2. Each of the Joint Filers is eligible to use
Schedule 13D for the filing of information therein.
3. Each of the Joint Filers is responsible for
the timely filing of Schedule 13D and any amendments
thereto, and for the completeness and accuracy of the
information concerning such person contained therein,
provided that each such person is not responsible for the
completeness or accuracy of the information concerning
the other persons making the filing, unless such person
knows or has reason to believe that such information is
inaccurate.
4. This Joint Filing Agreement may be executed
in one or more counterparts, all of which taken together
shall constitute one and the same instrument.
BANK OF AMERICA CORPORATION
NB HOLDINGS CORPORATION
BANK OF AMERICA, NATIONAL
ASSOCIATION
By: /s/ Charles F. Bowman
Name: Charles F. Bowman
Title: Senior Vice President