JP Morgan Partners Bhca LP – ‘4’ for 6/30/02 re: Penske Automotive Group, Inc.

On:  Wednesday, 7/10/02, at 12:26pm ET   ·   For:  6/30/02   ·   Accession #:  1106605-2-81   ·   File #:  1-12297

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Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Statement of Changes in Beneficial Ownership of        6±    29K 
                Securities by an Insider                                         


 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 4

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, 
Section 17(a) of the Public Utility Holding Company Act of 1935 or
 Section 30(f) of the Investment Company Act of 1940

[X]  Check box if no longer  subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).                                   

________________________________________________________________________________
1.   Name and Address of Reporting Person*                                      

J.P. Morgan Partners (BHCA), L.P.                                               

--------------------------------------------------------------------------------
(Last)                           (First)             (Middle)             

c/o J.P. Morgan Partners, LLC                                                   
1221 Avenue of the Americas-40th Floor                                          
--------------------------------------------------------------------------------
(Street)

New York                            New York            10020                   
--------------------------------------------------------------------------------
(City)                           (State)              (Zip)               

________________________________________________________________________________
2.   Issuer Name and Ticker or Trading Symbol                                   

United Auto Group, Inc. ("UAG")                                               
________________________________________________________________________________
3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)    

________________________________________________________________________________
4.   Statement for Month/Year                                                   

June 2002                                                                       

________________________________________________________________________________
5.   If Amendment, Date of Original (Month/Year)                                

================================================================================
6.   Relationship of Reporting Person to Issuer                                 
(Check all applicable)                                                

[_]  Director                             [X]  10% Owner              
[_]  Officer (give title below)           [_]  Other (specify below)  
________________________________________________________________________________
7.   Individual or Joint/Group Filing (Check applicable line)                   

[_]  Form filed by one Reporting Person                               
[X]  Form filed by more than one Reporting Person                     
________________________________________________________________________________

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 Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned 
================================================================================

                                                        [Enlarge/Download Table]

                                                                                                                6.                  
                                                                 4.                              5.             Owner-              
                                                                 Securities Acquired (A) or      Amount of      ship                
                                                    3.           Disposed of (D)                 Securities     Form:     7.        
                                                    Transaction  (Instr. 3, 4 and 5)             Beneficially   Direct    Nature of 
                                      2.            Code         ------------------------------- Owned at End   (D) or    Indirect  
1.                                    Transaction   (Instr. 8)                   (A)             of Month       Indirect  Beneficial
Title of Security                     Date          ------------     Amount      or     Price    (Instr. 3      (I)       Ownership 
(Instr. 3)                            (mm/dd/yy)     Code     V                  (D)             and 4)         (Instr.4) (Instr. 4)
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Voting Common Stock                    6/13/02        S (FN 1)         1,019,756  D      $22.97    3,340,045      I       By        
                                                                                                    (FN 2)                Internat- 
                                                                                                                          ional     
                                                                                                                          Motor Cars
                                                                                                                          Group II, 
                                                                                                                          L.L.C.    
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Voting Common Stock                   N/A            N/A                N/A      N/A      N/A      962,027        I       By        
                                                                                                    (FN 3)                Internat- 
                                                                                                                          ional     
                                                                                                                          Motor Cars
                                                                                                                          Group I,  
                                                                                                                          L.L.C.    
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Non-Voting Common Stock               N/A            N/A                N/A      N/A     N/A       1,095,052     I        By        
                                                                                                    (FN 4)                Internat- 
                                                                                                                          ional     
                                                                                                                          Motor Cars
                                                                                                                          Group II, 
                                                                                                                          L.L.C.    
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====================================================================================================================================

*    If the Form is filed by more than one  Reporting  Person,  see  Instruction
4(b)(v).                                                              

Reminder: Report on a separate line for each class of securities beneficially   
owned directly or indirectly.                               

 (Print or Type Responses)
                                                                          (Over)
(Form 4-07/99)                                                                  

FORM 4 (continued)                                                              

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned  
(e.g., puts, calls, warrants, options, convertible securities)

================================================================================

                                                        [Enlarge/Download Table]

                                                                                                                  10.               
                                                                                                        9.        Owner-            
                                                                                                        Number    ship              
                                                                                                        of        Form              
               2.                                                                                       Deriv-    of                
              Conver-                      5.                              7.                           ative     Deriv-   11.      
              sion                         Number of                       Title and Amount             Secur-    ative    Nature   
              or                           Derivative      6.                of Underlying     8.       ities     Secur-   of       
              Exer-               4.       Securities      Date              Securities        Price    Bene-     ity:     In-      
              cise       3.       Trans-   Acquired (A)    Exercisable and   (Instr. 3 and 4)  of       ficially  Direct   direct   
              Price      Trans-   action   or Disposed     Expiration Date   ----------------  Deriv-   Owned     (D) or   Bene-    
1.            of         action   Code     of(D)           (Month/Day/Year)           Amount   ative    at End    In-      ficial   
Title of      Deriv-     Date     (Instr.  (Instr. 3,      ----------------           or       Secur-   of        direct   Owner-   
Derivative    ative      (Month/  8)       4 and 5)         Date     Expira-          Number   ity      Month     (I)      ship     
Security      Secur-     Day/     ------   ------------     Exer-    tion             of       (Instr.  (Instr.   (Instr.  (Instr.  
(Instr. 3)    ity        Year)    Code V    (A)   (D)       cisable  Date    Title    Shares    5)       4)        4)       4)      
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Series B                                                                                                                            
Convertible                                                                   Voting                                        By      
Preferred                                                                     Common                                        Interna-
Stock      1:1,000      N/A     N/A           N/A  N/A     Immed    N/A       Stock    642,101     N/A    642.101  I        ational 
                                                                                                                            Motor   
                                                                                                                            Cars II,
                                                                                                                            L.L.C.  
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====================================================================================================================================

Explanation of Responses:                                                       

(1) The amount shown  represents  the sale of Common Stock of the Issuer by     
the Reporting  Person  pursuant to Rule 144 of the  Securities  Act of 1933 (the
"Rule 144 Sale").                                                               

(2) The amount shown in column 5 of Table I represents the number of shares     
of the Issuer's equity  securities on an as converted  basis  attributable as of
June 30, 2002 to the Reporting  Person's  membership  interests in International
Motor Cars Group I,  L.L.C.  ("IMCG I") and  International  Motor Cars Group II,
L.L.C.  ("IMCG II") after  giving  effect to (a) the  distribution  of 1,019,756
shares of Common  Stock of the  Issuer to the  Reporting  Person (b) the sale of
1,019,756 shares of Common Stock of the Issuer pursuant to the Rule 144 Sale and
(c) the  allocation of 129,822 shares of Common Stock of the Issuer to the carry
account of the managing member of IMCG II. Pursuant to the respective  operating
agreements  of each of IMCG I and  IMCG II,  the  number  of  shares  of  equity
securities  of the Issuer  attributable  to the  Reporting  Person's  membership
interests  in  IMCG I and  IMCG  II  shall  be  reduced  at  the  time  of  each
distribution  made by IMCG I or IMCG II to the Reporting Person by the number of
shares actually  distributed to the Reporting Person and by the number of shares
attributable  to the carry account of the managing  member of IMCG I or IMCG II,
as the case may be, pursuant to the respective  operating  agreements of each of
IMCG I and IMCG II. The  Reporting  Person is a  non-managing  member of each of
IMCG I and  IMCG  II.  The  actual  number  of  shares  of the  Issuer's  equity
securities  beneficially  owned  by the  Reporting  Person  is not  determinable
because the number of shares  attributable  to the carry account of the managing
member is subject to several  variables,  including the fair market value of the
Issuer's equity  securities at the time of distribution to the Reporting Person.
Moreover,  the number of shares of the Issuer's equity  securities  beneficially
owned by the Reporting Person does not include dividends accrued on the Series B
Convertible Preferred Stock issuable  semi-annually or at the time of conversion
of  such  preferred  stock  of the  Issuer  into  Common  Stock  of the  Issuer.
Accordingly, the Reporting Person disclaims beneficial ownership of the Issuer's
securities  shown in Table I except  to the  extent  of its  pecuniary  interest
therein.                                                                        

(3) The amount shown represents shares of Voting Common Stock of the Issuer     
owned by IMCG I; such shares are included in the  calculation  of the  3,340,045
shares of equity securities of the Issuer reported as beneficially  owned by the
Reporting Person as of the end of the month.                                    

(4) The amount shown  represents  shares of Non-Voting  Common Stock of the     
Issuer  owned by IMCG II; such shares are  included  in the  calculation  of the
3,340,045  shares of equity  securities  reported as  beneficially  owned by the
Reporting Person as of the end of the month.                                    

J.P. Morgan Partners (BHCA), L.P.                                               

By:   JPMP Master Fund Manager, L.P.,                                           
its General Partner                                               

By:   JPMP Capital Corp.,                                                       
its General Partner                                               

/s/  Donald J Hofmann, Jr.                               7/10/02      
By: -----------------------------------------            --------------------   
Donald J. Hoffmann, Jr.                                    Date     
Managing Director                                                   

**     Intentional misstatements or omissions of facts constitute Federal       
Criminal Violations.                                              

See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                         

Note:  File three copies of this Form, one of which must be manually signed.    
 If space provided is insufficient, see Instruction 6 for procedure.

                                                        [Enlarge/Download Table]

NAME AND ADDRESS OF                     DESIGNATED                 STATEMENT         ISSUER NAME, TICKER                            
 REPORTING PERSON                       REPORTER (Note 1)          FOR               OR TRADING SYMBOL                              
                                                                   MONTH/YEAR                                                       
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JPMP Master Fund Manager, L.P.          J.P. Morgan Partners       June 2002          United Auto Group, Inc. ("UAG")               
c/o J.P. Morgan Partners, LLC           (BHCA), L.P.                                                                                
1221 Avenue of the Americas                                                                                                         
40th Floor                                                                                                                          
New York, NY 10020                                                                                                                  
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JPMP Capital Corporation                J.P. Morgan Partners       June 2002          United Auto Group, Inc. ("UAG")               
c/o J.P. Morgan Partners, LLC          (BHCA), L.P.                                                                                 
1221 Avenue of the Americas                                                                                                         
40th Floor                                                                                                                          
New York, NY 10020                                                                                                                  
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J.P. Morgan Chase & Co.                J.P. Morgan Partners        June 2002          United Auto Group, Inc. ("UAG")               
270 Park Avenue                         (BHCA), L.P.                                                                                
35th Floor                                                                                                                          
New York, NY 10017                                                                                                                  
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                                                              TITLE OF                                                              
                                                              DERIVATIVE                                                            
                                                              SECURITIES                                                            
                                                              AND TITLE AND                                                         
                                                              AMOUNTS OF                                                            
                                                              SECURITIES                                                            
 NAME AND ADDRESS OF             TITLE OF      AMOUNT OF      UNDERLYING      OWNERSHIP FORM:   NATURE OF INDIRECT    DISCLAIMS     
 REPORTING PERSON                SECURITY      SECURITIES     DERIVATIVE      DIRECT (D) OR     BENEFICIAL OWNERSHIP  PECUNIARY     
                                               BENEFICIALLY   SECURITIES      INDIRECT (I)                            INTEREST      
                                               OWNED           (Note 1)                                                             
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JPMP Master Fund Manager, L.P.   See Table I   See Table I     See Table II     I               See Explanatory        See          
c/o J.P. Morgan Partners, LLC                                                                   Note 2 below           Explanatory  
1221 Avenue of the Americas                                                                                            Note 1 below 
40th Floor                                                                                                                          
New York, NY 10020                                                                                                                  
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JPMP Capital Corporation         See Table I   See Table I     See Table II     I              See Explanatory        See           
c/o J.P. Morgan Partners, LLC                                                                  Note 3 below           Explanatory   
1221 Avenue of the Americas                                                                                           Note 1 below  
40th Floor                                                                                                                          
New York, NY 10020                                                                                                                  
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J.P. Morgan Chase & Co.          See Table II   See Table I    See Table II     I              See Explanatory        See           
270 Park Avenue                                                                                Note 4 below           Explanatory   
35th Floor                                                                                                            Note 1 below  
New York, NY 10017                                                                                                                  
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(1) The  Designated  Reporter  is  executing  this  report on behalf of all     
Reporting Persons, each of whom has authorized it to do so. Each of such Persons
disclaims  beneficial  ownership of the securities to the extent it exceeds such
Person's pecuniary interest therein.                                            

(2) The amounts shown in Tables I and II represent the beneficial ownership     
of the Issuer's equity  securities by J.P. Morgan  Partners  (BHCA),  L.P. ("JPM
BHCA"). A portion of the securities may be deemed  attributable to the Reporting
Person  because the  Reporting  Person is the general  partner of JPM BHCA.  The
actual pro rata portion of such  beneficial  ownership  that may be deemed to be
attributable to the Reporting Person is not readily  determinable  because it is
subject to several variables,  including the internal rate of return and vesting
of interests within JPM BHCA.                                                   

(3) The amounts shown in Tables I and II represent the beneficial ownership     
of the Issuer's equity  securities by JPM BHCA, a portion of which may be deemed
attributable  to the Reporting  Person because the Reporting  Person is the sole
stockholder of JPMP Master Fund Manager ("MF  Manager"),  the general partner of
JPM BHCA. The actual pro rata portion of such  beneficial  ownership that may be
deemed attributable to the Reporting Person is not readily  determinable because
it is subject to several  variables,  including  the internal rate of return and
vesting within JPM BHCA and MF Manager.                                         

(4) The amounts shown in Tables I and II represent  beneficial ownership of     
the  Issuer's  equity  securities  by JPM BHCA, a portion of which may be deemed
attributable to the Reporting  Person because it is the sole  stockholder of (a)
JPMP Capital Corporation,  the general partner of MF Manager and (b) of the sole
limited  partner of JPM BHCA.  The actual  pro rata  portion of such  beneficial
ownership  that may be  attributable  to the  Reporting  Person  is not  readily
determinable because it is subject to several variables,  including the internal
rate of return and vesting of interests within JPM BHCA and MF Manager.         

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘4’ Filing		Date		Other Filings
Filed on:		7/10/02
For Period end:		6/30/02		10-Q
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