Hess Midstream LP: Ownership Update Filed

TL;DR

GIP updated their Hess Midstream stake on 3/13. Watch for changes.

AI Summary

Global Infrastructure Management LLC, through its affiliates GIP II Blue Holding, L.P. and others, has amended its Schedule 13D filing regarding Hess Midstream LP. The filing, dated March 13, 2024, indicates a change in their beneficial ownership of Class A Shares of Hess Midstream LP. The specific details of the ownership change and the total percentage held are not explicitly stated in this excerpt but are updated as of the filing date.

Why It Matters

This filing signals a potential shift in the control or influence over Hess Midstream LP by a significant investor, which could impact strategic decisions and future performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership by large investors can signal strategic shifts or potential future actions that may affect the company's stock price.

Key Players & Entities

• Global Infrastructure Management LLC (company) — Filing entity and manager
• GIP II Blue Holding, L.P. (company) — Affiliate and filing entity
• Hess Midstream LP (company) — Subject company
• Julie Ashworth (person) — Contact person at Global Infrastructure Management LLC

FAQ

Key Financial Figures

• $100 m — gregate purchase price of approximately $100 million, or $35.50 per unit (the March 20
• $35.50 — price of approximately $100 million, or $35.50 per unit (the March 2024 Repurchase Tra

Filing Documents

• d727115dsc13da.htm (SC 13D/A) — 19KB
• d727115dex9916.htm (EX-99.16) — 99KB
• 0001193125-24-066878.txt ( ) — 120KB

of the Statement is hereby amended and supplemented as follows

Item 4 of the Statement is hereby amended and supplemented as follows: March 2024 Repurchase Agreement On March 11, 2024, the Issuer, HESM Opco, Hess Investments and Blue Holding entered into a Unit Repurchase Agreement (the March 2024 Repurchase Agreement), pursuant to which HESM Opco agreed to purchase from Hess Investments and Blue Holding 1,059,390 and 1,757,511 Opco Class B Units, respectively (the Repurchased Units), for an aggregate purchase price of approximately $100 million, or $35.50 per unit (the March 2024 Repurchase Transaction). Pursuant to the terms of the March 2024 Repurchase Agreement, immediately following the closing of the March 2024 Repurchase Transaction, HESM Opco will cancel the Repurchased Units, and the Issuer will cancel, for no consideration, an equal number of Class B Shares held by Hess Investments and Blue Holding, respectively, in accordance with Section 5.5(e) of the Amended Opco Partnership Agreement. The above description of the March 2024 Repurchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such agreement, which is filed as an exhibit hereto and incorporated herein by reference. Item6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

of the Statement is hereby amended and supplemented as follows

Item 6 of the Statement is hereby amended and supplemented as follows: Item 4 above summarizes certain provisions of the March 2024 Repurchase Agreement and is incorporated herein by reference. A copy of such agreement is attached as an exhibit hereto and incorporated herein by reference. Except as set forth herein, none of the Reporting Persons or Related Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including, but not limited to, any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies. Item7. Materials to be Filed as Exhibits

of the Statement is hereby amended and supplemented as follows

Item 7 of the Statement is hereby amended and supplemented as follows: Exhibit Number* Description 16 Unit Repurchase Agreement, dated as of March 11, 2024, by and among Hess Midstream Operations LP, Hess Midstream LP, Hess Investments North Dakota LLC and GIP II Blue Holding, L.P. CUSIP No. 428103105 13D Page 2 of 2 pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: March 13, 2024 GIP II BLUE HOLDING, L.P. By: GIP Blue Holding GP, LLC, its general partner By: /s/ William Brilliant Name: William Brilliant Title: Manager GIP BLUE HOLDING GP, LLC By: /s/ William Brilliant Name: William Brilliant Title: Manager GLOBAL INFRASTRUCTURE GP II, L.P. By: Global Infrastructure Investors II, LLC, its general partner By: /s/ Gregg Myers Name: Gregg Myers Title: Chief Financial Officer GLOBAL INFRASTRUCTURE INVESTORS II, LLC By: /s/ Gregg Myers Name: Gregg Myers Title: Chief Financial Officer

View Full Filing

View this SC 13D/A filing on SEC EDGAR