OppenheimerFunds Completes SteelPath Acquisition
MLPs hunt exciting opportunities in an attempt to generate income by investing in energy infrastructure.
OppenheimerFunds completed the purchase of SteelPath Capital Management and SteelPath Fund Advisors (“SteelPath”) effective December 3, 2012. SteelPath is a leading innovator in developing Master Limited Partnership (MLP) investment products and was first to market with MLP-focused open-end mutual funds providing investors convenient access to this growing asset class. The MLP structure has evolved to become the dominant form of organization used by energy infrastructure operators, similar to how real estate investment migrated to the REIT structure. Energy infrastructure assets include crude oil, petroleum products, and natural gas pipelines, tanks, terminals, and storage facilities characterized by their strategic importance and long useful lives.
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