Ownership Submission
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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
Hicks, Muse, Tate & Furst Equity Fund V, L.P.
   2. Issuer Name and Ticker or Trading Symbol
Regency Energy Partners LP [RGNC] 		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)
200 CRESCENT COURT, SUITE 1600		 3. Date of Earliest Transaction (Month/Day/Year)
02/15/2007
(Street)

DALLAS, TX 75201		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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
Common Units 02/15/2007   C   4,592,464 A (6) 4,592,464 D  
Common Units 02/15/2007   C   3 A (6) 3 I By: HMTF GP, L.L.C. (1)
Common Units               3,456,255 I By: Regency Acquistion, L.P. (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)		 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
Class B Common Units (3) 02/15/2007   J(4)     5,173,189   (3)   (3) Common Units 5,173,189 $ 0 (4) 0 I By: HMTF Gas Partners II, L.P. (2)
Class B Common Units (3) 02/15/2007   J(4)   3     (3)   (3) Common Units 3 $ 0 (4) 3 I By: HMTF GP, L.L.C. (2)
Class B Common Units (3) 02/15/2007   J(4)   4,592,464     (3)   (3) Common Units 4,592,464 $ 0 (4) 4,592,464 D  
Class B Common Units (3) 02/15/2007   C     3   (3)   (3) Common Units 3 $ 0 (5) 0 I By: HMTF Gas Partners II, L.P. (2)
Class B Common Units (3) 02/15/2007   C     4,592,464   (3)   (3) Common Units 4,592,464 $ 0 (5) 0 I By: HMTF GP, L.L.C. (2)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Hicks, Muse, Tate & Furst Equity Fund V, L.P.
200 CRESCENT COURT
SUITE 1600
DALLAS, TX 75201		     X    
HM5/GP, LLC
200 CRESCENT COURT
SUITE 1600
DALLAS, TX 75201		     X    

Signatures

 Hicks, Muse, Tate & Furst Equity Fund V, L.P., By: HM5/GP, LLC, its general partner, By: David W. Knickel, Vice President   04/12/2007
**Signature of Reporting Person Date
 HM5/GP, LLC, By: David W. Knickel, Vice President   04/12/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Fund V is the sole member of HMTF GP, L.L.C.
(2) Fund V is the sole member of HMTF Regency, L.L.C., which is the general partner of HMTF Regency, L.P. ("HMTF Regency"), of which Fund V is also a limited partner. HMTF Regency is the sole member of Regency Holdings LLC, which is the general partner of Regency Aquisition, L.P. HMTF Regency also is the sole limited partner of Regency Acquisition, L.P. Indirect ownership by Regency Acquisition, L.P., previously reported on Form 4.
(3) Convertible into Common Units at the option of the holder on a one-for-one basis from and after February 15, 2007. The Class B Common Units have no expiration date.
(4) Pro rata distribution by Gas Partners II.
(5) Conversion of Class B Common Units. See Note 3 above.
(6) Shares acquired pursuant to conversion of the Class B Common Units. See Note 3 above and Table II.
 
Remarks:
This Form 4 is filed by each of Hicks, Muse, Tate & Furst Equity Fund V, L.P. ("Fund V"), and HM5/GP, LLC ("HM5").
  Form 4s reporting the distribution of Class B Common Units reported herein also were filed by HMTF Gas Partners II, L.P. ("Gas
Partners II"), HMTF GP II, L.L.C. ("GP II"), and HMTF GP, L.L.C. ("HMTF GP").  HM5 is the general
partner of Fund V, which is the sole member of HMTF GP, which is the sole member of GP II, which is the general partner of Gas Partners
II.   Each reporting person disclaims beneficial ownership of the securities reported herein (except to the extent of such reporting
person's direct or indirect pecuniary interest in such securities), and this report shall not be deemed an admission that such
reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

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