PT Independence Energy Holdings LLC Amends Crescent Energy Stake

TL;DR

PT Independence Energy Holdings LLC just updated their stake in Crescent Energy Co. - watch this space.

AI Summary

On August 9, 2024, PT Independence Energy Holdings LLC filed an amendment (Amendment No. 3) to its Schedule 13D regarding Crescent Energy Company. The filing indicates a change in beneficial ownership, with PT Independence Energy Holdings LLC now holding a significant stake in Crescent Energy Company's Class A Common Stock.

Why It Matters

This filing signals a potential shift in control or influence over Crescent Energy Company, which could impact its strategic direction and stock performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or strategic shifts, which may lead to increased volatility.

Key Players & Entities

• PT Independence Energy Holdings LLC (company) — Filing entity
• Crescent Energy Company (company) — Subject company
• Class A Common Stock (security) — Securities subject to filing
• Brandi Kendal (person) — Mentioned in filing

FAQ

Key Financial Figures

• $0.0001 — er) Class A Common Stock, Par Value of $0.0001 Per Share (Title of Class of Securitie

Filing Documents

• p13da3.htm (SC 13D/A) — 162KB
• 0000899140-24-000819.txt ( ) — 164KB

Identity and Background

Item 2. Identity and Background.

(a)-(c) is hereby deleted in its entirety and replaced with the following

Item 2(a)-(c) is hereby deleted in its entirety and replaced with the following: (a) , (f) This Schedule 13D is being filed pursuant to Rule 13d-1(a) under the Act, by: (i) PT Independence Energy Holdings LLC, a Delaware limited liability company; (ii) Liberty Energy Holdings, LLC, a Delaware limited liability company; (iii) Liberty Mutual Insurance Company, a Massachusetts corporation; (iv) Liberty Mutual Group Inc., a Massachusetts corporation; (v) LMHC Massachusetts Holdings Inc., a Massachusetts corporation; and (vi) Liberty Mutual Holding Company Inc., a Massachusetts corporation (the persons and entities listed in items (i) through (vi) are collectively referred to herein as the "Reporting Persons"). PT Independence Energy Holdings LLC (" PT Reporting Person ") is the direct beneficial owner of the securities reported in this Schedule 13D, other than with respect to 41,118 shares of Class A Common Stock that Liberty Energy Holdings LLC (" Holdings ") is the direct beneficial owner of. Holdings, a member of PT Reporting Person, has the sole right to vote or dispose of the shares of class B common stock, par value $0.0001 per share (" Class B Common Stock "), of the Issuer and units in Crescent Energy OpCo LLC (the " OpCo LLC Units ") held by the PT Reporting Person. Therefore, Holdings is deemed to have beneficial ownership of the shares of Class B Common Stock and OpCo LLC Units. The sole member of Holdings is Liberty Mutual Insurance Company (" Liberty Mutual "), which is wholly owned by Liberty Mutual Group Inc. The sole shareholder of Liberty Mutual Group Inc. is LMHC Massachusetts Holdings Inc., whose sole shareholder is Liberty Mutual Holding Company Inc. Because Liberty Mutual Holding Company Inc. is a mutual holding company, its members are entitled to vote at meetings of the company. No such member is entitled to cast 5% or more of the votes. The Reporting Persons and Independence Energy Aggregator L.P. (" Aggregator L.P. ") may be deem

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

(a) and (b) are hereby amended as follows

Item 5(a) and (b) are hereby amended as follows: The response of the Reporting Persons to rows 7 through 13 on the cover page of this Amendment is incorporated by reference herein.

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: August 9 , 2024 PT INDEPENDENCE ENERGY HOLDINGS LLC By: /s/ Brandi Kendall Name: Brandi Kendall Title: Vice President LIBERTY ENERGY HOLDINGS, LLC By: /s/ Bevin Brown Name: Bevin Brown Title: Vice President LIBERTY MUTUAL INSURANCE COMPANY By: /s/ Vlad Barbalat Name: Vlad Barbalat Title: Executive Vice President LIBERTY MUTUAL GROUP INC. By: /s/ Vlad Barbalat Name: Vlad Barbalat Title: Executive Vice President LMHC MASSACHUSETTS HOLDINGS INC. By: /s/ Vlad Barbalat Name: Vlad Barbalat Title: Executive Vice President LIBERTY MUTUAL HOLDING COMPANY INC. By: /s/ Vlad Barbalat Name: Vlad Barbalat Title: Executive Vice President Annex A Directors and Officers of Liberty Mutual Holding Company Inc. The following sets forth the name and principal occupation of each of the directors and officers of Liberty Mutual Holding Company Inc. Each of such persons is a citizen of the United States other than Annette M. Verschuren, O.C., who is a citizen of Canada. Name Principal Occupation David H. Long Chairman of Liberty Mutual Holding Company Inc. Joseph L. Hooley Retired Chairman and former Chief Executive Officer of State Street Corporation Timothy M. Sweeney Chief Executive Officer and President of Liberty Mutual Holding Company Inc. Myrtle S. Potter Retired CEO, Sumitomo Pharma America, Inc. Nancy W. Quan EVP & Global Chief Technical and Innovation Officer, The Coca-Cola Company Ellen A. Rudnick Senior Advisor, Polsky Center for Entrepreneurship and Innovation, University of Chicago Angel A. Ruiz Chairman, MediaKind George Serafeim Charles M. Williams Professor of Business Administration, Harvard Business School Martin P. Slark Retired Chief Executive Officer, Molex LLC Eric A. Spiegel Retired President and Chief Executive Offic