13D Filing: Farallon Partners L L C/ca and Playa Hotels & Resorts N.v.

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Page 2 of 31 – SEC Filing

                                    13D
CUSIP No. N70544106

1

NAMES OF REPORTING PERSONS
Cabana Investors, B.V.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)            
                                                                                                                                         (a) [     ]
                                                                                                          (b) [ X ]**
**        The reporting persons making this filing hold an aggregate of 32,227,130 ordinary shares (including 2,058,450 ordinary shares issuable upon the exercise of certain   warrants), which is 30.5% of the class of securities.  The reporting person on this cover page, however, is a beneficial owner only of the securities reported by it on this cover page.

3

SEC USE ONLY

4

SOURCE OF FUNDS (See Instructions)

N/A

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)

[     ]

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Netherlands

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

7

SOLE VOTING POWER

-0-

8

SHARED VOTING POWER

30,293,249

9

SOLE DISPOSITIVE POWER

-0-

10

SHARED DISPOSITIVE POWER

30,293,2491

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

30,293,2491

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)

                                                                                                                                       [ X ]

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

28.7%1

14

TYPE OF REPORTING PERSON (See Instructions)

CO

1This number includes (a) 1,373,174 ordinary shares issuable upon the exercise of Company Founder Warrants, as defined below, and (b) 561,753 ordinary shares issuable upon the exercise of Company Earnout Warrants, as defined below.  See Preliminary Note and Item 5.

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