Form 4: KKR Group Sells 2,948,723 Shares of Crescent Energy Co (CRGY) at $9.91 Per Share

KKR Group Partnership L.P. reports the sale of 2,948,723 shares of Crescent Energy Co Class A Common Stock at $9.91 per share, along with related conversions of Class B Common Stock and OpCo LLC Units.

Summary

• KKR Group Partnership L.P. filed a Form 4 detailing changes in beneficial ownership of Crescent Energy Co [CRGY] securities.
• On March 10, 2025, IE Aggregator, which is controlled by KKR entities, sold 2,948,723 shares of Class A Common Stock at $9.91 per share.
• Prior to the sale, IE Aggregator converted 2,948,723 shares of Class B Common Stock and OpCo LLC Units into an equal number of Class A Common Stock shares.
• Following the reported transactions, KKR Group Partnership L.P. indirectly beneficially owns 26,185,773 shares of Class B Common Stock and 2,948,723 shares of Class A Common Stock through its holdings in IE Aggregator and KKR Upstream Associates LLC.
• The filing clarifies the relationships between various KKR entities and their indirect beneficial ownership of Crescent Energy securities.
• Henry R. Kravis and George R. Roberts, founding partners of KKR Management LLP, are also listed as reporting persons.

Sentiment

Score: 5

Explanation: Neutral sentiment as it reports a transaction without expressing positive or negative views about the company's prospects.

Industry Context

This transaction reflects ongoing trading activity by major shareholders in the energy sector. Monitoring such transactions provides insights into investor sentiment and potential shifts in ownership within Crescent Energy Co.

Stakeholder Impact

• The sale of shares by KKR Group may have a short-term impact on the stock price of Crescent Energy Co.
• The transaction provides liquidity to certain unaffiliated limited partners of IE Aggregator.

Key Dates