UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ____ ) *
Camco Financial Corporation
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(Name of Issuer)
Common Stock, par value $1.00
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(Title of Class of Securities)
132618109
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(CUSIP Number)
October 17, 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 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).
Page 1 of 11 pages
CUSIP No. 132618109
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1. Names of Reporting Persons. Ryan Heslop
I.R.S. Identification Nos. of above persons (entities only).
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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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Number of 5. Sole Voting Power 0
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 360,779
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power 0
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 360,779
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 360,779
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10. Check 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) 5.0%
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12. Type of Reporting Person (See Instructions) IN
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Page 2 of 11 pages
CUSIP No. 132618109
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1. Names of Reporting Persons. Ariel Warszawski
I.R.S. Identification Nos. of above persons (entities only).
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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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Number of 5. Sole Voting Power 0
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 360,779
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power 0
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 360,779
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 360,779
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
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12. Type of Reporting Person (See Instructions) IN
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Page 3 of 11 pages
CUSIP No. 132618109
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1. Names of Reporting Persons. Firefly Value Partners, LP
I.R.S. Identification Nos. of above persons (entities only).
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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 Delaware
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Number of 5. Sole Voting Power 0
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 360,779
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power 0
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 360,779
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 360,779
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
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12. Type of Reporting Person (See Instructions) PN
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Page 4 of 11 pages
CUSIP No. 132618109
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1. Names of Reporting Persons. FVP GP, LLC
I.R.S. Identification Nos. of above persons (entities only).
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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 Delaware
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Number of 5. Sole Voting Power 0
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 360,779
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power 0
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 360,779
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 360,779
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
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12. Type of Reporting Person (See Instructions) OO
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Page 5 of 11 pages
CUSIP No. 132618109
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1. Names of Reporting Persons. Firefly Management Company GP, LLC
I.R.S. Identification Nos. of above persons (entities only).
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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 Delaware
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Number of 5. Sole Voting Power 0
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 360,779
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power 0
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 360,779
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 360,779
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
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12. Type of Reporting Person (See Instructions) OO
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Page 6 of 11 pages
CUSIP No. 132618109
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1. Names of Reporting Persons. FVP Master Fund, L.P.
I.R.S. Identification Nos. of above persons (entities only).
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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 Cayman Islands
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Number of 5. Sole Voting Power 0
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 192,083
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power 0
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 192,083
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 192,083
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10. Check 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) 2.7%
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12. Type of Reporting Person (See Instructions) PN
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Page 7 of 11 pages
CUSIP No. 132618109
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1. Names of Reporting Persons. FVP US-Q, LP
I.R.S. Identification Nos. of above persons (entities only).
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
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 Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 168,696
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power 0
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 168,696
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 168,696
--------------------------------------------------------------------------------
10. Check 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) 2.4%
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12. Type of Reporting Person (See Instructions) PN
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Page 8 of 11 pages
Item 1.
(a) The name of the issuer is Camco Financial Corporation. (the "Issuer").
(b) The principal executive office of the Issuer is located at 6901 Glenn
Highway, Cambridge, Ohio 43725.
Item 2.
(a) This statement (this "Statement") is being filed by: (i) FVP Master
Fund, L.P., a Cayman Islands exempted limited partnership ("FVP Master
Fund"), (ii) FVP US-Q, LP, a Delaware limited partnership ("FVP Fund"
and, together with the FVP Master Fund, "Funds"), (iii) Firefly Value
Partners, LP, a Delaware limited partnership ("Firefly Partners"),
which serves as the investment manager of the Funds, (iv) FVP GP, LLC,
a Delaware limited liability company ("FVP GP"), which serves as the
general partner of the Funds, (v) Firefly Management Company GP, LLC, a
Delaware limited liability company ("Firefly Management"), which serves
as the general partner of Firefly Partners, and (vi) Messrs. Ryan
Heslop and Ariel Warszawski, the managing members of FVP GP and Firefly
Management (all of the foregoing, collectively, "Reporting Persons").
The Funds are private investment vehicles formed for the purpose of
investing and trading in a wide variety of securities and financial
instruments. The Funds directly own all of the shares reported in this
Statement. Messrs. Heslop and Warszawaki, Firefly Partners, Firefly
Management and FVP GP may be deemed to share with the Funds voting and
dispositive power with respect to such shares. Each Reporting Person
disclaims beneficial ownership with respect to any shares other than
those owned directly by such Reporting Person.
(b) The Principal Business Office of the FVP Master Fund is:
c/o Ogier Fiduciary Services (Cayman) Limited
Queensgate House
113 South Church Street
P.O. Box 1234GT
Grand Cayman, KY1-1108, Cayman Islands
The Principal Business Office of Messrs. Heslop and Warszawski, Firefly
Partners, FVP GP, Firefly Management and the FVP Fund is:
237 Park Ave., 9th Floor, New York, NY 10017
(c) For citizenship information see item 4 of the cover sheet of each
Reporting Person.
(d) This Statement relates to the Common Stock of the Issuer.
(e) The CUSIP Number of the Common Stock of the Issuer is 132618109.
Item 3. If this statement is filed pursuant to 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 (15 U.S.C.
78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c).
(d) [ ] Investment company registered under section 8 of the Investment Company
Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(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
(15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(J);
Not applicable.
Page 9 of 11 pages
Item 4. Ownership.
See Items 5-9 and 11 on the cover page for each Reporting Person, and Item 2.
The percentage ownership of each Reporting Person is based on 7,155,595 shares
of Common Stock outstanding as of October 3, 2008, as reported on the Issuer's
Definitive Proxy Statement on Schedule 14A filed on October 9, 2008.
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 [ ].
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. Certification
(a) Not applicable.
(b) 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.
Page 10 of 11 pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: October 20, 2008
/s/ Ryan Heslop
--------------------------
Ryan Heslop
Ariel Warszawski
Firefly Value Partners, LP
FVP GP, LLC
Firefly Management Company GP, LLC
FVP Master Fund, L.P.
FVP US-Q, LP
By: /s/ Ariel Warszawski
---------------------------------------------
Ariel Warszawski, for himself and as Managing
Member of FVP GP and Firefly Management
Page 11 of 11 pages
EXHIBIT INDEX
Exhibit No. Document
----------- -------------------------------------------------------------
1 Joint Filing Agreement, dated October 20, 2008, among Ryan
Heslop, Ariel Warszawski, Firefly Value Partners, LP, FVP GP,
LLC, Firefly Management Company GP, LLC, FVP Master Fund, L.P.
and FVP US-Q, LP to file this joint statement on Schedule 13G
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the persons named below agree to the joint filing on behalf of
each of them of a statement on Schedule 13G (including amendments thereto) with
respect to the Common Stock, par value $1.00 per share, of Camco Financial
Corporation, and further agree that this Joint Filing Agreement be included as
an Exhibit to such joint filing. In evidence thereof, the undersigned hereby
execute this Agreement.
Dated: October 20, 2008
/s/ Ryan Heslop
-----------------------------------------
Ryan Heslop
Ariel Warszawski
Firefly Value Partners, LP
FVP GP, LLC
Firefly Management Company GP, LLC
FVP Master Fund, L.P.
FVP US-Q, LP
By: /s/ Ariel Warszawski
-------------------------------------
Ariel Warszawski, for himself and as
Managing Member of FVP GP and Firefly
Management