Filing Details
- Accession Number:
- 0001193125-24-064970
- Form Type:
- 13D Filing
- Publication Date:
- 2024-03-10 20:00:00
- Filed By:
- Blackstone Holdings Iii L.p.
- Company:
- Kinetik Holdings Inc. (NASDAQ:KNTK)
- Filing Date:
- 2024-03-11
- SEC Url:
- 13D Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
BCP Raptor Aggregator | 66,676,392 | 3,312,308 | 66,676,392 | 3,312,308 | 69,988,700 | 60.3% |
BX Permian Pipeline Aggregator | 10,779,235 | 534,945 | 10,779,235 | 534,945 | 11,314,180 | 16.5% |
BCP VII BEP II Holdings Manager | 77,455,627 | 3,847,253 | 77,455,627 | 3,847,253 | 81,302,880 | 65.0% |
Blackstone Energy Management Associates II | 0 | 81,302,880 | 0 | 81,302,880 | 81,302,880 | 65.0% |
Blackstone Management Associates VII | 0 | 81,302,880 | 0 | 81,302,880 | 81,302,880 | 65.0% |
Blackstone EMA II | 0 | 81,302,880 | 0 | 81,302,880 | 81,302,880 | 65.0% |
BMA VII | 0 | 81,302,880 | 0 | 81,302,880 | 81,302,880 | 65.0% |
Blackstone Holdings III | 77,455,627 | 3,847,253 | 77,455,627 | 3,847,253 | 81,302,880 | 65.0% |
Blackstone Holdings III GP | 77,455,627 | 3,847,253 | 77,455,627 | 3,847,253 | 81,302,880 | 65.0% |
Blackstone Holdings III GP Management | 77,455,627 | 3,847,253 | 77,455,627 | 3,847,253 | 81,302,880 | 65.0% |
Blackstone Inc | 77,460,140 | 3,847,253 | 77,460,140 | 3,847,253 | 81,307,393 | 65.0% |
Blackstone Group Management | 77,460,140 | 3,847,253 | 77,460,140 | 3,847,253 | 81,307,393 | 65.0% |
Stephen A. Schwarzman | 77,460,140 | 3,847,253 | 77,460,140 | 3,847,253 | 81,307,393 | 65.0% |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
KINETIK HOLDINGS INC.
(Name of Issuer)
Class A Common Stock, par value $0.0001 per share
(Title of Class of Securities)
02215L209
(CUSIP Number)
John G. Finley
Blackstone Inc.
345 Park Avenue
New York, New York 10154
Tel: (212) 583-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
March 7, 2024
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
BCP Raptor Aggregator, LP | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
66,676,392 (1) | ||||
8 | SHARED VOTING POWER
3,312,308 (2) | |||||
9 | SOLE DISPOSITIVE POWER
66,676,392 (1) | |||||
10 | SHARED DISPOSITIVE POWER
3,312,308 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
69,988,700 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
60.3% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN |
(1) | Includes common units representing limited partner interests of Kinetik Holdings LP (the Partnership, and such units, Common Units) and a corresponding number of shares of Class C Common Stock, par value $0.0001 per share, of Kinetik Holdings Inc. (the Issuer and such stock, Class C Common Stock), which together may be redeemed for shares of Class A Common Stock, par value $0.0001 per share of the Issuer (Class A Common Stock) on a one-for-one basis pursuant to the Third Amended and Restated Agreement of Limited Partnership of the Partnership (Third A&R LPA) |
(2) | Consists of the consideration allocation rights described in Item 6 herein (Consideration Allocation Rights), which may each be settled for shares of Class A Common Stock as described further in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
2
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
BX Permian Pipeline Aggregator LP | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
10,779,235 (1) | ||||
8 | SHARED VOTING POWER
534,945 (2) | |||||
9 | SOLE DISPOSITIVE POWER
10,779,235 (1) | |||||
10 | SHARED DISPOSITIVE POWER
534,945 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,314,180 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
3
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
BCP VII/BEP II Holdings Manager L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
77,455,627 (1) | ||||
8 | SHARED VOTING POWER
3,847,253 (2) | |||||
9 | SOLE DISPOSITIVE POWER
77,455,627 (1) | |||||
10 | SHARED DISPOSITIVE POWER
3,847,253 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
4
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone Energy Management Associates II L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
0 | ||||
8 | SHARED VOTING POWER
81,302,880 (1)(2) | |||||
9 | SOLE DISPOSITIVE POWER
0 | |||||
10 | SHARED DISPOSITIVE POWER
81,302,880 (1)(2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
5
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone Management Associates VII L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
0 | ||||
8 | SHARED VOTING POWER
81,302,880 (1)(2) | |||||
9 | SOLE DISPOSITIVE POWER
0 | |||||
10 | SHARED DISPOSITIVE POWER
81,302,880 (1)(2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
6
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone EMA II L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
0 | ||||
8 | SHARED VOTING POWER
81,302,880 (1)(2) | |||||
9 | SOLE DISPOSITIVE POWER
0 | |||||
10 | SHARED DISPOSITIVE POWER
81,302,880 (1)(2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
7
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
BMA VII L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
0 | ||||
8 | SHARED VOTING POWER
81,302,880 (1)(2) | |||||
9 | SOLE DISPOSITIVE POWER
0 | |||||
10 | SHARED DISPOSITIVE POWER
81,302,880 (1)(2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
8
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone Holdings III L.P. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Quebec, Canada |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
77,455,627 (1) | ||||
8 | SHARED VOTING POWER
3,847,253 (2) | |||||
9 | SOLE DISPOSITIVE POWER
77,455,627 (1) | |||||
10 | SHARED DISPOSITIVE POWER
3,847,253 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
9
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone Holdings III GP L.P. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
77,455,627 (1) | ||||
8 | SHARED VOTING POWER
3,847,253 (2) | |||||
9 | SOLE DISPOSITIVE POWER
77,455,627 (1) | |||||
10 | SHARED DISPOSITIVE POWER
3,847,253 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
10
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone Holdings III GP Management L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
77,455,627 (1) | ||||
8 | SHARED VOTING POWER
3,847,253 (2) | |||||
9 | SOLE DISPOSITIVE POWER
77,455,627 (1) | |||||
10 | SHARED DISPOSITIVE POWER
3,847,253 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,302,880 (1)(2) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (3) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
11
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone Inc. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
77,460,140 (1)(3) | ||||
8 | SHARED VOTING POWER
3,847,253 (2) | |||||
9 | SOLE DISPOSITIVE POWER
77,460,140 (1)(3) | |||||
10 | SHARED DISPOSITIVE POWER
3,847,253 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,307,393 (1)(2)(3) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (4) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Additionally, as of the date hereof, Harvest Fund Advisors LLC, an indirect subsidiary of Blackstone Inc. (HFA), is the beneficial owner of 4,513 shares of Class A Common Stock, which Class A Common Stock is held by funds and accounts managed by HFA in the ordinary course of its business. |
(4) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
12
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Blackstone Group Management L.L.C. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
77,460,140 (1)(3) | ||||
8 | SHARED VOTING POWER
3,847,253 (2) | |||||
9 | SOLE DISPOSITIVE POWER
77,460,140 (1)(3) | |||||
10 | SHARED DISPOSITIVE POWER
3,847,253 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,307,393 (1)(2)(3) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (4) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Additionally, as of the date hereof, HFA is the beneficial owner of 4,513 shares of Class A Common Stock, which Class A Common Stock is held by funds and accounts managed by HFA in the ordinary course of its business. |
(4) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
13
CUSIP No. 02215L209
1 | NAMES OF REPORTING PERSON
Stephen A. Schwarzman | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a): ☐ (b): ☒
| |||||
3 | SEC USE ONLY
| |||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (see Item 3) | |||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)
☐ | |||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 | SOLE VOTING POWER
77,460,140 (1)(3) | ||||
8 | SHARED VOTING POWER
3,847,253 (2) | |||||
9 | SOLE DISPOSITIVE POWER
77,460,140 (1)(3) | |||||
10 | SHARED DISPOSITIVE POWER
3,847,253 (2) |
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,307,393 (1)(2)(3) | |||||
12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
☐ | |||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
65.0% (4) | |||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN |
(1) | Includes Common Units and a corresponding number of shares of Class C Common Stock, which together may be redeemed for shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA. |
(2) | Consists of the Consideration Allocation Rights which may each be settled for shares of Class A Common Stock as further described in Item 6. |
(3) | Additionally, as of the date hereof, HFA is the beneficial owner of 4,513 shares of Class A Common Stock, which Class A Common Stock is held by funds and accounts managed by HFA in the ordinary course of its business. |
(4) | Calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934, as amended. See Item 5. |
14
Explanatory Note
This Amendment No. 8 (Amendment No. 8) to Schedule 13D relates to the Class A common stock, par value $0.0001 per share (the Class A Common Stock), of Kinetik Holdings Inc., a Delaware corporation (the Issuer), and is being filed to amend the initial statement on Schedule 13D filed on March 4, 2022 and subsequently amended by Amendment No. 1 filed on May 20, 2022, Amendment No. 2 filed on August 19, 2022, Amendment No. 3 filed on November 21, 2022, Amendment No. 4 filed on February 22, 2023, Amendment No. 5 filed on May 19, 2023, Amendment No. 6 filed on August 18, 2023 and Amendment No. 7 filed on November 27, 2023 (as amended, the Schedule 13D).
Except as set forth herein, this Amendment No. 8 does not modify any of the information previously reported in the Schedule 13D. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D.
Item 2. | Identity and Background |
Item 2 of the Schedule 13D is hereby amended and supplemented by incorporating herein by reference the information set forth on the updated Schedule I attached hereto.
Item 3. | Source and Amount of Funds or Other Consideration |
The information in Item 5(c) and Item 6 of this Schedule 13D is incorporated herein by reference.
Item 5. | Interest in Securities of the Issuer |
The first three paragraphs of items 5(a) and (b) of the Schedule 13D are hereby amended and restated in their entirety as follows:
(a) and (b) Calculations of the percentage of the shares of Class A Common Stock beneficially owned assumes that there were 59,635,172 shares of Class A Common Stock outstanding as of the date hereof, as provided by the Issuer, and takes into account any shares of Class A Common Stock which would be received upon exchange of shares of Class C Common Stock along with an equivalent number of Common Units for a corresponding number of newly-issued shares of Class A Common Stock on a one-for-one basis pursuant to the Third A&R LPA (as defined in Item 6), in each case, that may be deemed to be beneficially owned by the Reporting Persons, as applicable (and no other shares of Class C Common Stock or Common Units).
The aggregate number and percentage of shares of Class A Common Stock beneficially owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover pages of this Schedule 13D and are incorporated herein by reference.
As of the date hereof, (i) BCP Aggregator holds 10,255,246 shares of Class A Common Stock, 56,421,146 Common Units and a corresponding number of shares of Class C Common Stock and 3,312,308 Consideration Allocation Rights and (ii) BX Permian holds 1,657,909 shares of Class A Common Stock, 9,121,326 Common Units and a corresponding number of shares of Class C Common Stock and 534,945 Consideration Allocation Rights. The Common Units are generally redeemable in exchange for shares of Class A Common Stock on a one-for-one basis or, at the Partnerships option, an equivalent amount of cash; provided that the Issuer may, at its option, effect a direct exchange of cash or Class A Common Stock for such Common Units in lieu of such a redemption by the Partnership. Upon any redemption or exchange of Common Units, a corresponding number of shares of Class C Common Stock will be cancelled. Harvest Fund Advisors LLC, an indirect subsidiary of Blackstone (HFA), is the beneficial owner of 4,513 shares of Class A Common Stock, which shares are held by funds and accounts managed by HFA in the ordinary course of its business.
15
Item 5(c) of the Schedule 13D is hereby amended and restated in its entirety as follows:
Pursuant to the DRIP Agreement, BCP Aggregator and BX Permian participated in the dividend reinvestment plan of the Issuer and had 100% of their respective cash distributions and none of their respective cash dividends reinvested in shares of Class A Common Stock of the Issuer as follows on March 7, 2024.
Entity | Amount reinvested | Price per share | Number of shares | |||
BCP Aggregator | $42,315,859.50 | $34.07 | 1,241,885 | |||
BX Permian | $6,840,994.50 | $34.07 | 200,770 |
16
SIGNATURE
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.
Dated: March 11, 2023
BCP RAPTOR AGGREGATOR, LP | ||
By: BCP VII/BEP II Holdings Manager L.L.C., its general partner | ||
By: | /s/ David Foley | |
Name: | David Foley | |
Title: | Senior Managing Director | |
BX PERMIAN PIPELINE AGGREGATOR LP | ||
By: BCP VII/BEP II Holdings Manager L.L.C., its general partner | ||
By: | /s/ David Foley | |
Name: | David Foley | |
Title: | Senior Managing Director | |
BCP VII/BEP II HOLDINGS MANAGER L.L.C. | ||
By: | /s/ David Foley | |
Name: | David Foley | |
Title: | Senior Managing Director |
[Signature Page to Schedule 13D/A]
BLACKSTONE ENERGY MANAGEMENT ASSOCIATES II L.L.C. | ||
By: | Blackstone EMA II L.L.C., its sole member | |
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Authorized Signatory | |
BLACKSTONE EMA II L.L.C. | ||
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Authorized Signatory | |
BLACKSTONE MANAGEMENT ASSOCIATES VII L.L.C. | ||
By: | BMA VII L.L.C., its sole member | |
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Authorized Signatory | |
BMA VII L.L.C. | ||
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Authorized Signatory | |
BLACKSTONE HOLDINGS III L.P. | ||
By: | Blackstone Holdings III GP L.P., its general partner | |
By: | Blackstone Holdings III GP Management L.L.C., its general partner | |
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Senior Managing Director |
[Signature Page to Schedule 13D/A]
BLACKSTONE HOLDINGS III GP L.P. | ||
By: Blackstone Holdings III GP Management L.L.C., its general partner | ||
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Senior Managing Director | |
BLACKSTONE HOLDINGS III GP MANAGEMENT L.L.C. | ||
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Senior Managing Director | |
BLACKSTONE INC. | ||
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Senior Managing Director | |
BLACKSTONE GROUP MANAGEMENT L.L.C. | ||
By: | /s/ Tabea Hsi | |
Name: | Tabea Hsi | |
Title: | Senior Managing Director | |
STEPHEN A. SCHWARZMAN | ||
/s/ Stephen A. Schwarzman |
[Signature Page to Schedule 13D/A]
SCHEDULE I
Executive Officers and Directors of Blackstone Inc.
The name and principal occupation of each director and executive officer of Blackstone Inc. are set forth below. The address for each person listed below is c/o Blackstone Inc., 345 Park Avenue, New York, New York 10154. All executive officers and directors listed are United States citizens.
OFFICERS: | ||
Name | Present Principal Occupation or Employment | |
Stephen A. Schwarzman | Founder, Chairman and Chief Executive Officer of Blackstone Inc. | |
Jonathan D. Gray | President, Chief Operating Officer of Blackstone Inc. | |
Michael S. Chae | Chief Financial Officer of Blackstone Inc. | |
John G. Finley | Chief Legal Officer of Blackstone Inc. | |
Vikrant Sawhney | Chief Administrative Officer of Blackstone Inc. | |
DIRECTORS: | ||
Name | Present Principal Occupation or Employment | |
Stephen A. Schwarzman | Founder, Chairman and Chief Executive Officer of Blackstone Inc. | |
Jonathan D. Gray | President, Chief Operating Officer of Blackstone Inc. | |
Kelly A. Ayotte | Former United States Senator from New Hampshire | |
Joseph P. Baratta | Global Head of Private Equity at Blackstone Inc. | |
James W. Breyer | Founder and Chief Executive Officer of Breyer Capital | |
Reginald J. Brown | Partner for the law firm, Kirkland & Ellis | |
Rochelle B. Lazarus | Chairman Emeritus & Former Chief Executive Officer, Ogilvy & Mather Worldwide | |
William G. Parrett | Retired CEO of Deloitte Touche Tohmatsu and retired Senior Partner of Deloitte (USA) | |
Ruth Porat | President and Chief Investment Officer; Chief Financial Officer of Alphabet Inc. and Google Inc. |
Except as set forth in this Schedule 13D, to the best knowledge of the Reporting Persons, none of the individuals listed above beneficially owns any shares of Class A Common Stock, except that Joseph P. Baratta holds 1,110 shares of Class A Common Stock and Vikrant Sawhney owns 2,100 shares of Class A Common Stock.