-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TQTgv0jeq0nViVnXfROVAqr3WnHPUCD0Gp8Q4QsEDu/b+N4Zt0i8CVHXp0wbtZkf hJuIbTPhEa998z9vhm4UGg== 0000806085-07-000117.txt : 20071018 0000806085-07-000117.hdr.sgml : 20071018 20071018102905 ACCESSION NUMBER: 0000806085-07-000117 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20071018 DATE AS OF CHANGE: 20071018 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Targa Resources Partners LP CENTRAL INDEX KEY: 0001379661 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922] IRS NUMBER: 651295427 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-83048 FILM NUMBER: 071177986 BUSINESS ADDRESS: STREET 1: 1000 LOUISIANA STREET 2: SUITE 4300 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: (713)584-1000 MAIL ADDRESS: STREET 1: 1000 LOUISIANA STREET 2: SUITE 4300 CITY: HOUSTON STATE: TX ZIP: 77002 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LEHMAN BROTHERS HOLDINGS INC CENTRAL INDEX KEY: 0000806085 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 133216325 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: LEHMAN BROTHERS STREET 2: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2125267000 MAIL ADDRESS: STREET 1: LEHMAN BROTHERS STREET 2: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: SHEARSON LEHMAN HUTTON HOLDINGS INC DATE OF NAME CHANGE: 19901017 SC 13G 1 targaschedule13g.htm SC 13G

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Schedule 13G

Under the Securities Exchange Act of 1934

Targa Resources Partners LP

(Name of Issuer)

Common Units, representing limited partner interests

(Title of Class of Securities)

87611X105

(CUSIP Number)

April 19, 2007

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)

x Rule 13d-1(c)

o Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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.			87611X105

1) Name of Reporting Person			Lehman Brothers Holdings Inc.

S.S. or I.R.S. Identification No. of Above Person			13-3216325

2) Check the Appropriate Box if a Member of a Group			(a) o
			(b) o

3) SEC Use Only

4) Citizenship or Place of Organization			Delaware

Number of Shares Beneficially Owned by Each Reporting Person With:
	5)	Sole Voting Power			1,775,219⁽¹⁾

	6)	Shared Voting Power			-0-

	7)	Sole Dispositive Power			1,775,219⁽¹⁾

	8)	Shared Dispositive Power			-0-


9) Aggregate Amount Beneficially Owned by Each Reporting Person				1,775,219⁽¹⁾

10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares				o

11) Percent of Class Represented by Amount in Row 9				9.2%⁽²⁾

12) Type of Reporting Person				HC

⁽¹⁾ As of October 15, 2007.

⁽²⁾ Based on 19,336,000 common units outstanding as of August 1, 2007, as reported on Form 10-Q filed by the Issuer on August 14, 2007.

CUSIP No.			87611X105

1) Name of Reporting Person			Lehman Brothers Inc.

S.S. or I.R.S. Identification No. of Above Person			13-2518466

2) Check the Appropriate Box if a Member of a Group			(a) o
			(b) o

3) SEC Use Only

4) Citizenship or Place of Organization			Delaware

Number of Shares Beneficially Owned by Each Reporting Person With:
	5)	Sole Voting Power			1,295,919⁽¹⁾

	6)	Shared Voting Power			-0-

	7)	Sole Dispositive Power			1,295,919⁽¹⁾

	8)	Shared Dispositive Power			-0-


9) Aggregate Amount Beneficially Owned by Each Reporting Person				1,295,919⁽¹⁾

10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares				o

11) Percent of Class Represented by Amount in Row 9				6.7%⁽²⁾

12) Type of Reporting Person				BD

⁽¹⁾ As of October 15, 2007.

⁽²⁾ Based on 19,336,000 common units outstanding as of August 1, 2007, as reported on Form 10-Q filed by the Issuer on August 14, 2007.

CUSIP No.			87611X105

1) Name of Reporting Person			LB I Group Inc.

S.S. or I.R.S. Identification No. of Above Person			13-2741778

2) Check the Appropriate Box if a Member of a Group			(a) o
			(b) o

3) SEC Use Only

4) Citizenship or Place of Organization			Delaware

Number of Shares Beneficially Owned by Each Reporting Person With:
	5)	Sole Voting Power			490,000⁽¹⁾

	6)	Shared Voting Power			-0-

	7)	Sole Dispositive Power			490,000⁽¹⁾

	8)	Shared Dispositive Power			-0-


9) Aggregate Amount Beneficially Owned by Each Reporting Person				490,000⁽¹⁾

10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares				o

11) Percent of Class Represented by Amount in Row 9				2.5%⁽²⁾

12) Type of Reporting Person				CO

⁽¹⁾ As of October 15, 2007.

⁽²⁾ Based on 19,336,000 common units outstanding as of August 1, 2007, as reported on Form 10-Q filed by the Issuer on August 14, 2007.

CUSIP No.			87611X105

1) Name of Reporting Person			Lehman Brothers MLP Opportunity Associates LLC

S.S. or I.R.S. Identification No. of Above Person			20-8727524

2) Check the Appropriate Box if a Member of a Group			(a) o
			(b) o

3) SEC Use Only

4) Citizenship or Place of Organization			Delaware

Number of Shares Beneficially Owned by Each Reporting Person With:
	5)	Sole Voting Power			479,300⁽¹⁾

	6)	Shared Voting Power			-0-

	7)	Sole Dispositive Power			479,300⁽¹⁾

	8)	Shared Dispositive Power			-0-


9) Aggregate Amount Beneficially Owned by Each Reporting Person				479,300⁽¹⁾

10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares				o

11) Percent of Class Represented by Amount in Row 9				2.5%⁽²⁾

12) Type of Reporting Person				OO

⁽¹⁾ As of October 15, 2007.

⁽²⁾ Based on 19,336,000 common units outstanding as of August 1, 2007, as reported on Form 10-Q filed by the Issuer on August 14, 2007.

CUSIP No.			87611X105

1) Name of Reporting Person			Lehman Brothers MLP Opportunity Associates LP

S.S. or I.R.S. Identification No. of Above Person			20-8727697

2) Check the Appropriate Box if a Member of a Group			(a) o
			(b) o

3) SEC Use Only

4) Citizenship or Place of Organization			Delaware

Number of Shares Beneficially Owned by Each Reporting Person With:
	5)	Sole Voting Power			479,300⁽¹⁾

	6)	Shared Voting Power			-0-

	7)	Sole Dispositive Power			479,300⁽¹⁾

	8)	Shared Dispositive Power			-0-


9) Aggregate Amount Beneficially Owned by Each Reporting Person				479,300⁽¹⁾

10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares				o

11) Percent of Class Represented by Amount in Row 9				2.5%⁽²⁾

12) Type of Reporting Person				PN

⁽¹⁾ As of October 15, 2007.

⁽²⁾ Based on 19,336,000 common units outstanding as of August 1, 2007, as reported on Form 10-Q filed by the Issuer on August 14, 2007.

CUSIP No.			87611X105

1) Name of Reporting Person			Lehman Brothers MLP Opportunity Fund LP

S.S. or I.R.S. Identification No. of Above Person			20-8727922

2) Check the Appropriate Box if a Member of a Group			(a) o
			(b) o

3) SEC Use Only

4) Citizenship or Place of Organization			Delaware

Number of Shares Beneficially Owned by Each Reporting Person With:
	5)	Sole Voting Power			479,300⁽¹⁾

	6)	Shared Voting Power			-0-

	7)	Sole Dispositive Power			479,300⁽¹⁾

	8)	Shared Dispositive Power			-0-


9) Aggregate Amount Beneficially Owned by Each Reporting Person				479,300⁽¹⁾

10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares				o

11) Percent of Class Represented by Amount in Row 9				2.5%⁽²⁾

12) Type of Reporting Person				PN

⁽¹⁾ As of October 15, 2007.

⁽²⁾ Based on 19,336,000 common units outstanding as of August 1, 2007, as reported on Form 10-Q filed by the Issuer on August 14, 2007.

CUSIP No.			87611X105

1) Name of Reporting Person			Lehman Brothers MLP Partners, LP

S.S. or I.R.S. Identification No. of Above Person			20-4916839

2) Check the Appropriate Box if a Member of a Group			(a) o
			(b) o

3) SEC Use Only

4) Citizenship or Place of Organization			Delaware

Number of Shares Beneficially Owned by Each Reporting Person With:
	5)	Sole Voting Power			490,000⁽¹⁾

	6)	Shared Voting Power			-0-

	7)	Sole Dispositive Power			490,000⁽¹⁾

	8)	Shared Dispositive Power			-0-


9) Aggregate Amount Beneficially Owned by Each Reporting Person				490,000⁽¹⁾

10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares				o

11) Percent of Class Represented by Amount in Row 9				2.5%⁽²⁾

12) Type of Reporting Person				PN

⁽¹⁾ As of October 15, 2007.

⁽²⁾ Based on 19,336,000 common units outstanding as of August 1, 2007, as reported on Form 10-Q filed by the Issuer on August 14, 2007.

Item 1(a).	Name of Issuer:

	Targa Resources Partners LP

Item 1(b).	Address of Issuer’s Principal Executive Offices:

	1000 Louisiana, Suite 4300
	Houston, TX 77002


Item 2(a).	Name of Person(s) Filing:

	Lehman Brothers Holdings Inc.
	Lehman Brothers Inc.
	LB I Group Inc.
	Lehman Brothers MLP Opportunity Associates LLC
	Lehman Brothers MLP Opportunity Associates LP
	Lehman Brothers MLP Opportunity Fund LP
	Lehman Brothers MLP Partners, LP

Item 2(b).	Address of Principal Business Office:

	Lehman Brothers Holdings Inc.
	745 Seventh Avenue
	New York, New York 10019

	Lehman Brothers Inc.
	745 Seventh Avenue
	New York, New York 10019

	LB I Group Inc.
	399 Park Avenue
	New York, New York 10022

	Lehman Brothers MLP Opportunity Associates LLC
	399 Park Avenue
	New York, New York 10022

	Lehman Brothers MLP Opportunity Associates LP
	399 Park Avenue
	New York, New York 10022

	Lehman Brothers MLP Opportunity Fund LP
	399 Park Avenue
	New York, New York 10022


	Lehman Brothers MLP Partners, LP
	399 Park Avenue
	New York, New York 10022

Item 2(c).	Citizenship or Place of Organization:

	Lehman Brothers Holdings Inc. (“Holdings”) is a corporation organized under the laws of the State of Delaware.

	Lehman Brothers Inc. (“LBI”) is a corporation organized under the laws of the State of Delaware.

	LB I Group Inc. (“LB I Group”) is a corporation organized under the laws of the State of Delaware.

	Lehman Brothers MLP Opportunity Associates LLC (“LB MLP Assoc LLC”) is a limited liability company formed under the laws of the State of Delaware.

	Lehman Brothers MLP Opportunity Associates LP (“LB MLP Assoc LP”) is a limited partnership formed under the laws of the State of Delaware.

	Lehman Brothers MLP Opportunity Fund LP (“LB MLP Fund”) is a limited partnership formed under the laws of the State of Delaware.

	Lehman Brothers MLP Partners, LP (“LB MLP”) is a limited partnership formed under the laws of the State of Delaware.

Item 2(d).	Title of Class of Securities:

	Common Units

Item 2(e).	CUSIP Number:

	87611X105

Item 3.	If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is a:

	(a) o A broker or dealer under Section 15 of the 1934 Act
	(b) o A bank as defined in Section 3(a)(6) of the 1934 Act

	(c) o An insurance company as defined in Section 3(a) (19) of the 1934 Act
	(d) o An investment company registered under Section 8 of the Investment Company Act of 1940
	(e) o An investment advisor in accordance with Rule 13d-1(b)(1)(ii)(E)
	(f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F)
	(g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G)
	(h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act
	(i) o A church plan that is excluded from the definition of investment Company under Section 3(c)(14) of the Investment Company Act of 1940
	(j) o A group, in accordance with Rule 13d-1(b)(1)(ii)(J)

Item 4.

Ownership

(a)	Amount Beneficially Owned:

	See Item 9 of cover pages.

(b)	Percent of Class:

	See Item 11 of cover pages.

(c)	Number of shares as to which the person has:

	(i) sole power to vote or to direct the vote
	(ii) shared power to vote or to direct the vote
	(iii) sole power to dispose or to direct the disposition
	(iv) shared power to dispose or to direct the disposition

See Items 5-8 of cover pages.

Item 5.

Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not Applicable

Item 7.

Identification and Classification of the Subsidiary which Acquired the Security being Reported on by the Parent Holding Company or Control Person

LBI is the actual owner of 805,919 Common Units reported herein. LBI, a broker-dealer registered under Section 15 of the 1934 Act, is a wholly-owned subsidiary of Holdings.

Under the rules and regulations of the Securities and Exchange Commission, Holdings may be deemed to be the beneficial owner of the Common Units owned by LBI.

LB MLP Fund is the actual owner of 479,300 Common Units reported herein. LB MLP Assoc LP is the general partner of LB MLP Fund and is wholly-owned by LB MLP Assoc LLC which is wholly-owned by Holdings.

Under the rules and regulations of the Securities and Exchange Commission, LB MLP Assoc LP, LB MLP Assoc LLC and Holdings may be deemed to be the beneficial owners of the Common Units owned by LB MLP Fund.

LB MLP is the actual owner of 490,000 Common Units reported herein. LB MLP is wholly-owned by LB I Group which is wholly-owned by LBI which is wholly-owned by Holdings.

Under the rules and regulations of the Securities and Exchange Commission, LB I Group, LBI and Holdings may be deemed to be the beneficial owners of the Common Units owned by LB MLP.

Item 8.

Identification and Classification of Members of the Group

Not Applicable

Item 9.

Notice of Dissolution of Group

Not Applicable

Item 10.

Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

By signing below I hereby certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned hereby certifies that the information set forth in this statement is true, complete and correct.

Dated: October 17, 2007

LEHMAN BROTHERS HOLDINGS INC.

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Vice President

LEHMAN BROTHERS INC.

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Vice President


LB I GROUP INC.

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP OPPORTUNITY ASSOCIATES LLC

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP OPPORTUNITY ASSOCIATES LP


By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP OPPORTUNITY FUND LP

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP PARTNERS LP

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

EXHIBIT A - JOINT FILING AGREEMENT

The undersigned hereby agree that the Statement on Schedule 13G filed herewith (and any amendments thereto), is being filed jointly with the Securities and Exchange Commission pursuant to Rule 13d-1(k) (1) under the Securities Exchange Act of 1934, as amended, on behalf of each such person.

Dated: October 17, 2007

LEHMAN BROTHERS HOLDINGS INC.

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Vice President

LEHMAN BROTHERS INC.

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Vice President


LB I GROUP INC.

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP OPPORTUNITY ASSOCIATES LLC

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP OPPORTUNITY ASSOCIATES LP

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP OPPORTUNITY FUND LP

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

LEHMAN BROTHERS MLP PARTNERS LP

By:	/s/ Barrett S. DiPaolo
	Name: Barrett S. DiPaolo
	Title: Authorized Signatory

-----END PRIVACY-ENHANCED MESSAGE-----