Sec Form 4 Filing - Blackstone Infrastructure Associates L.P. @ Tallgrass Energy, LP - 2019-07-30

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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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1. Name and Address of Reporting Person
Blackstone Infrastructure Associates L.P.
2. Issuer Name and Ticker or Trading Symbol
Tallgrass Energy, LP [ TGE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O THE BLACKSTONE GROUP L.P., 345 PARK AVENUE
3. Date of Earliest Transaction (MM/DD/YY)
07/30/2019
(Street)
NEW YORK, NY10154
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A shares 07/30/2019 C( 1 )( 2 ) 66,931 D 1,127,935 I See Footnotes ( 3 ) ( 8 ) ( 10 ) ( 11 )
Class B shares 07/30/2019 C( 1 )( 2 ) 4,158,257 D 98,353,838 ( 2 ) I See Footnotes ( 4 ) ( 8 ) ( 10 ) ( 11 )
Class B shares 07/30/2019 C( 1 )( 2 ) 150,439 D 2,301,283 ( 2 ) I See Footnotes ( 5 ) ( 8 ) ( 10 ) ( 11 )
Class A shares 21,751,018 I See Footnotes ( 6 ) ( 8 ) ( 10 ) ( 11 )
Class A shares 773,510 I See Footnotes ( 7 ) ( 8 ) ( 10 ) ( 11 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Obligation to Transfer ( 1 ) ( 2 ) 07/30/2019 C( 1 )( 2 ) 1 ( 1 ) ( 2 ) ( 1 )( 2 ) ( 1 )( 2 ) Class A shares, Class B shares and TE units ( 1 ) ( 2 ) ( 1 ) ( 2 ) 0 I See Footnotes ( 1 ) ( 2 ) ( 8 ) ( 10 ) ( 11 )
TE units ( 9 ) 07/30/2019 C( 1 )( 2 ) 4,158,257 ( 9 ) ( 9 ) Class A shares 4,158,257 ( 1 ) ( 2 ) 98,353,838 ( 2 ) ( 3 ) I See Footnotes ( 4 ) ( 8 ) ( 10 ) ( 11 )
TE units ( 9 ) 07/30/2019 C( 1 )( 2 ) 150,439 ( 9 ) ( 9 ) Class A shares 150,439 ( 1 ) ( 2 ) 2,301,283 ( 2 ) ( 3 ) I See Footnotes ( 5 ) ( 8 ) ( 10 ) ( 11 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Blackstone Infrastructure Associates L.P.
C/O THE BLACKSTONE GROUP L.P.
345 PARK AVENUE
NEW YORK, NY10154
X
BIA GP L.P.
C/O THE BLACKSTONE GROUP INC..
345 PARK AVENUE
NEW YORK, NY10154
X
Prairie VCOC Acquiror LP
C/O THE BLACKSTONE GROUP INC.
345 PARK AVENUE
NEW YORK, NY10154
X
BIA GP L.L.C.
C/O THE BLACKSTONE GROUP INC.
345 PARK AVENUE
NEW YORK, NY10154
X
Blackstone Holdings III L.P.
C/O THE BLACKSTONE GROUP INC.
345 PARK AVENUE
NEW YORK, NY10154
X
Blackstone Holdings III GP L.P.
C/O THE BLACKSTONE GROUP INC.
345 PARK AVENUE
NEW YORK, NY10154
X
Blackstone Holdings III GP Management L.L.C.
C/O THE BLACKSTONE GROUP INC.
345 PARK AVENUE
NEW YORK, NY10154
X
Blackstone Group Inc
345 PARK AVENUE
NEW YORK, NY10154
X
Blackstone Group Management L.L.C.
C/O THE BLACKSTONE GROUP INC.
345 PARK AVENUE
NEW YORK, NY10154
X
SCHWARZMAN STEPHEN A
C/O THE BLACKSTONE GROUP INC.
345 PARK AVENUE
NEW YORK, NY10154
X
Signatures
PRAIRIE VCOC ACQUIROR LP, By: BIA Holdings Manager L.L.C., its general partner, By: /s/ Sean Klimczak, Name: Sean Klimczak, Title: Senior Managing Director 08/01/2019
Signature of Reporting Person Date
BLACKSTONE INFRASTRUCTURE ASSOCIATES L.P., By: BIA GP L.P., its general partner, By: BIA GP L.L.C., its general partner, By: /s/ Sean Klimczak, Name: Sean Klimczak, Title: Senior Managing Director 08/01/2019
Signature of Reporting Person Date
BIA GP L.P., By: BIA GP L.L.C., its general partner, By: /s/ Sean Klimczak, Name: Sean Klimczak, Title: Senior Managing Director 08/01/2019
Signature of Reporting Person Date
BIA GP L.L.C., By: /s/ Sean Klimczak, Name: Sean Klimczak, Title: Senior Managing Director 08/01/2019
Signature of Reporting Person Date
BLACKSTONE HOLDINGS III L.P., By: Blackstone Holdings III GP L.P., its general partner, By: Blackstone Holdings III GP Management .L.C., its general partner, By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 08/01/2019
Signature of Reporting Person Date
BLACKSTONE HOLDINGS III GP L.P., By: Blackstone Holdings III GP Management L.L.C., its general partner, By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 08/01/2019
Signature of Reporting Person Date
BLACKSTONE HOLDINGS III GP MANAGEMENT L.L.C., By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 08/01/2019
Signature of Reporting Person Date
THE BLACKSTONE GROUP INC., By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 08/01/2019
Signature of Reporting Person Date
BLACKSTONE GROUP MANAGEMENT L.L.C., By: /s/ John G. Finley, Name: John G. Finley, Title: Chief Legal Officer 08/01/2019
Signature of Reporting Person Date
By: /s/ Steven A. Schwarzman, Name: Steven A. Schwarzman 08/01/2019
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Pursuant to an Equityholders' Agreement dated as of March 11, 2019 (the "Equity Holders Agreement"), affiliates of Blackstone Infrastructure Associates L.P. ("BIA") were required to transfer to affiliates of Enagas, S.A. ("Enagas"), promptly after the Committee on Foreign Investments in the United States ("CFIUS") approved Enagas making further investments in securities of Tallgrass Energy, LP ("TGE"), such affiliates' indirect interests in certain Class A shares representing limited partner interests ("Class A shares") in TGE, Class B shares representing limited partner interests ("Class B shares") in TGE and units representing membership interests ("TE units") in Tallgrass Equity, LLC, pursuant to the terms of the Equity Holders Agreement, as described below.
( 2 )On July 30, 2019, promptly after the CFIUS approval described above was granted, and pursuant to the transfer obligations described above, affiliates of BIA disposed of (i) equity interests in affiliates of BIA representing BIA's indirect interest with respect to 66,931 Class A shares held by Prairie Secondary Acquiror E LP ("Secondary Acquiror 2") plus a corresponding percentage of Secondary Acquiror 2's capital in exchange for approximately $14.1 million, and BIA's indirect interest in 4,308,696 Class B shares and 4,308,696 TE units in exchange for $83.4 million plus the assumption of $40.7 million of debt, to affiliates of Enagas. There was no change in the aggregate number of Class A shares, Class B shares or TE units held by the Acquiror LPs (as defined below) as a result of these transfers, other than a transfer of 150,439 Class B shares and 150,439 TE units from Prairie VCOC Acquiror LP ("VCOC Acquiror") to Prairie ECI Acquiror LP ("ECI Acquiror").
( 3 )These Class A shares are owned directly Secondary Acquiror 2.
( 4 )These Class B shares and TE units are owned directly by Prairie ECI Acquiror LP ("ECI Acquiror").
( 5 )These Class B shares and TE units are owned directly by Prairie VCOC Acquiror LP ("VCOC Acquiror").
( 6 )These Class A shares are owned directly by Prairie Non-ECI Acquiror LP ("Non-ECI Acquiror").
( 7 )These Class A shares are owned directly by Prairie Secondary Acquiror LP (together with Secondary Acquiror 2, ECI Acquiror, Non-ECI Acquiror and Secondary Acquiror, the "Acquiror LPs").
( 8 )The general partner of BIA is BIA GP L.P. The general partner of BIA GP L.P. is BIA GP L.L.C. The sole member of BIA GP L.L.C. is Blackstone Holdings III L.P. The general partner of Blackstone Holdings III L.P. is Blackstone Holdings III GP L.P. The general partner of Blackstone Holdings III GP L.P. is Blackstone Holdings III GP Management L.L.C. The sole member of Blackstone Holdings III GP Management L.L.C. is The Blackstone Group Inc. (f/k/a The Blackstone Group L.P.). The sole holder of the Class C common stock of The Blackstone Group Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.
( 9 )TE units may be exchanged by the holders thereof for an equivalent number of Class A shares and upon such exchange, an equivalent number of Class B shares held by such holder will be cancelled.
( 10 )Each of the Reporting Persons, disclaims beneficial ownership of the securities held by the Acquiror LPs, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose or that any of the transactions reported herein are subject to Section 16.
( 11 )Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.

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