Hess Midstream repurchases $100M in Class B units from sponsors; 2.57M units cancelled

Hess Midstream LP

Repurchased 2,572,677 Class B units from affiliates of Hess and GIP/BlackRock at $38.87/unit; closed Jan 15.
Repurchase expected to be accretive and support incremental distribution growth above 5% annual target through 2026.
Post-repurchase public holds ~47.9%, Hess ~37.8%, GIP/BlackRock ~14.3%; combined sponsor voting interest ~52.1%.
Since 2021, total sponsor unit repurchases reach $1.95B; company retains over $1.25B financial flexibility through 2026.
Funded via existing credit facility; repurchase approved by independent conflicts committee.

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