SteelPath Midstream MLP & Energy Infrastructure Suite
The SteelPath suite of midstream master limited partnership (MLP) and energy infrastructure funds invest primarily in U.S. energy infrastructure with a focus on the midstream sector.
The strategy for the five MLP funds focus on identifying primarily U.S. midstream energy infrastructure companies that have strong projected distribution growth, or the greatest potential for significant upward revaluation, seeking to provide an attractive risk-reward balance for investors.
The SteelPath investment team’s conservative investment style seeks to uncover MLPs that offer low underlying business risk and attractive total return potential in order to focus on those entities that we believe have the most attractive risk/reward balance.
- Employs a bottom-up approach to selecting energy securities
- Market comps: Price/distributable cash flow, Debt/EBITDA, Enterprise Value/EBITDA, Coverage ratio.
- Utilizes rigorous proprietary modeling and analytical techniques to understand MLP valuations and risks.
- Seeks to invest in MLPs and midstream c‐corps with proven management teams and asset footprints positioned to result in future attractive growth opportunities.
Stuart Cartner serves as a senior portfolio manager of the Oppenheimer SteelPath team. Prior to joining SteelPath in 2007, Mr. Cartner was an advisor in the Private Wealth Management Division of Goldman Sachs. During his 19-year tenure there, he was responsible for managing a $200 million portfolio of midstream MLPs. Previously he worked at Trammell Crow Company and General Electric.
Brian Watson, CFA
Brian Watson, CFA, serves as Director of Research and is a senior portfolio manager on the SteelPath team. Prior to joining the Firm in 2009, Mr. Watson was a portfolio manager and led the MLP research effort at Swank Capital LLC, in Dallas, Texas. He also covered the MLP and diversified energy sectors for RBC Capital Markets in the firm’s Equity Research Division.
Bob Coble serves as portfolio manager for the SteelPath MLP & Energy Infrastructure strategy and as a senior research analyst on the SteelPath investment team for the MLP Funds. Prior to joining the firm, Bob was a Senior Vice President in the Energy Investment Banking Group at Raymond James where he was employed as an investment banker for seven years helping to structure midstream, upstream and energy service MLP securities.