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An Introduction: Master Limited Partnerships

AOL - Master Ltd Partnerships

Master limited partnerships (“MLPs”) are tax-advantaged yield-oriented public vehicles formed for the purpose of owning certain qualifying businesses, typically energy infrastructure assets operating in oil, gas, or other natural resource-related activities.

This primer provides an overview of MLPs, including their capitalization and economic structure, typical financial metrics used by MLPs or appearing in their organizational documents, governance and fiduciary-like duties, and certain considerations in preparing for or undertaking an initial public offering.

This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.