Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

11407

OppenheimerFunds acquires MLP investment manager SteelPath

RELATED TOPICS​

OppenheimerFunds has completed its acquisition of SteelPath Capital Management and SteelPath Fund Advisors, an energy infrastructure investments company focused on the master limited partnership (MLP) sector.



SteelPath offers a family of MLP-focused mutual funds as well as privately available products. Financial terms of the transaction have not been disclosed.

SteelPath is now named OFI SteelPath. OppenheimerFunds Distributor is the general distributor and principal underwriter for each series of The SteelPath MLP Funds Trust.

"Through their innovative product design, SteelPath has become a recognised leader in the energy infrastructure space in only eight years. We’re excited to bring their investment expertise and thought leadership to our clients," says Bill Glavin (pictured), chief executive officer, OppenheimerFunds. "SteelPath is a natural addition to OFI’s investment boutique structure and expansion of our alternative product line-up."

Gabriel Hammond, founder and chief executive officer, SteelPath, says: "We’re pleased it’s official and excited to be part of the OppenheimerFunds family. This important step bolsters our firm’s leading research efforts by leveraging the infrastructure and technology of OppenheimerFunds’ robust investment platform. Our investment team will remain in Dallas and will continue to be solely focused on energy infrastructure investment."

With approximately USD3.3bn in assets under management as of 30 November 2012, SteelPath has an eight-year track record in MLP investing, including an investment team with over 50 years of combined experience in investing and analysing MLPs. The firm was first to market with MLP-focused open-end mutual funds providing investors transparent access to this growing asset class.

UBS Investment Bank acted as financial adviser to OppenheimerFunds and Deutsche Bank Securities acted as financial adviser to SteelPath. Willkie Farr & Gallagher acted as legal adviser to OppenheimerFunds and Ropes & Gray acted as legal adviser to SteelPath.

Latest News

MSCI has launched MSCI AI Portfolio Insights, writing that it combines generative artificial intelligence “GenAI”..
The Capgemini Research Institute’s World Wealth Report 2024, published today, reveals the number of high-net-worth..
New research from cloud security firm Zscaler reports a disconnect between European company confidence in..

Related Articles

Waves
A joint statement from BNP Paribas Asset Management, Federated Hermes Limited, Mirova, Robeco and Storebrand Asset Management has been published, entitled The urgent need for better ocean-related data to make informed investment decisions...
A joint statement from BNP Paribas Asset Management, Federated Hermes Limited, Mirova, Robeco and Storebrand Asset Management has been published,..
Frozen soap bubble
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct Authority says has a simple aim: “Financial products that are marketed as sustainable should do as they claim and have the evidence to back it up.”..
From the end of this month, the UK’s Sustainability Disclosure Requirements (SDR) regime comes into force which the Financial Conduct..
Global ESG Investing
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of climate change and ESG factors in state policymaking...
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of..
Trends
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100 million deals announced this month alone...
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by