Edgar Filing: Information Services Group Inc.

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â TCS Global Equity Master Fund, L.P.

2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2011

3. Issuer Name and Ticker or Trading Symbol
Information Services Group Inc. [III]

(Last)

(First)

(Middle)

888 SEVENTH AVENUE, SUITE 1504

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

NEW YORK,Â NYÂ 10019

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,280,423 ⁽¹⁾ ⁽²⁾ ⁽³⁾	D	Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Warrant (Right to Buy)	01/31/2008	01/31/2011	Common Stock	2,324,800 ⁽¹⁾ ⁽²⁾ ⁽³⁾	$ 6	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
TCS Global Equity Master Fund, L.P. 888 SEVENTH AVENUE, SUITE 1504 NEW YORK,Â NYÂ 10019	Â	Â X	Â	Â

Signatures

/s/ Eric Semler, managing member of TCS Capital GP, LLC, general partner of TCS Global Equity Master Fund, L.P.		01/10/2011
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	TCS Global Equity Master Fund, L.P. ("TCS Global") became the beneficial owner of the common stock, par value $0.001 per share ("Common Stock"), and the redeemable common stock purchase warrants (the "Warrants") of Information Services Group, Inc. (the "Issuer") as a result of a pro rata in-kind distribution of the Common Stock and Warrants and in-kind recontribution (the "Transfer"). The Transfer did not result in a change in the pecuniary interest held by TCS Capital GP, LLC ("Capital GP") and Eric Semler. Capital GP and Eric Semler disclaim beneficial ownership of the Common Stock and the Warrants except to the extent of their pecuniary interest therein.
(2)	Prior to the Transfer, the Common Stock and Warrants were held by TCS Capital, L.P. ("TCS I"), TCS Capital II, L.P. ("TCS II"), TCS Capital Investments, L.P. ("TCS Offshore," and collectively, the "Capital Funds") and TCS Select, L.P. ("Select Fund," and together with the Capital Funds, the "Funds"). Capital GP serves as the general partner of the Capital Funds and TCS Global with Eric Semler serving as the managing member of Capital GP. Capital GP receives an allocation of a portion of the net profits from and owns a partnership interest in each of the Capital Funds and TCS Global. TCS Select GP, LLC ("Select GP") serves as the general partner of the Select Fund. Semler Chutorian LLC ("Semler LLC") is the managing member of Select GP with Eric Semler serving as the managing member of Semler LLC. Eric Semler owns a partnership interest in the Select Fund.
(3)	On the date of the Transfer, TCS I, TCS II and the Select Fund made a pro rata in-kind distribution of the Common Stock and the Warrants to Capital GP and Select GP, respectively, and to the applicable limited partners of each of TCS I, TCS II and Select Fund. Capital GP then made an in-kind recontribution of the Common Stock and Warrants to TCS Global. Select GP made further in-kind distributions of the Common Stock and Warrants up through Semler LLC to Eric Semler who then made an in-kind recontribution of the Common Stock and Warrants through Capital GP to TCS Global. The limited partners of TCS I, TCS II and Select Fund receiving a pro rata in-kind distribution of the Common Stock and the Warrants made in-kind recontributions to TCS Global through a limited partner of TCS Global. TCS Offshore did not participate in the Transfer and currently holds Common Stock and Warrants of the Issuer.
Â Remarks: TheÂ CommonÂ StockÂ andÂ WarrantsÂ heldÂ byÂ TCSÂ GlobalÂ EquityÂ MasterÂ Fund,Â L.P.Â haveÂ beenÂ previouslyÂ reportedÂ onÂ aÂ FormÂ 3Â andÂ multipleÂ Form 4sÂ filedÂ byÂ EricÂ Semler,Â TCSÂ CapitalÂ GP,Â LLC,Â TCSÂ CapitalÂ InvestmentsÂ L.P.Â andÂ TCSÂ CapitalÂ II,Â L.P.Â Â TheÂ ReportingÂ PersonÂ isÂ filing thisÂ FormÂ 3Â toÂ reportÂ thatÂ itÂ hasÂ becomeÂ aÂ 10%Â ownerÂ ofÂ theÂ Issuer.Â Â InÂ theÂ eventÂ thatÂ theÂ ReportingÂ PersonÂ isÂ requiredÂ toÂ fileÂ subsequent FormÂ 4sÂ orÂ FormÂ 5s,Â itÂ willÂ doÂ soÂ asÂ partÂ ofÂ aÂ jointÂ filingÂ withÂ EricÂ Semler,Â TCSÂ CapitalÂ GP,Â LLCÂ andÂ TCSÂ CapitalÂ Investments L.P.

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