Master Limited Partnerships (MLPs)

Master Limited Partnerships (MLPs)

We are MLP Pioneers and Market Leaders

A master limited partnership (MLP), also known as a publicly traded partnership, is a limited partnership or limited liability company that is publicly traded on a U.S. stock exchange and that earns over 90% of its income from certain qualifying sources. The vast majority of MLPs are involved in energy-related businesses.

Our firm was involved in the creation of the first MLPs in the early 1980s and served as issuer’s counsel on the first “drop down” MLP in 1983. Since the 1980s, we have been a market leader in MLP transactions because of our deep experience in the complex partnership, securities, tax and business issues associated with creating, governing and growing MLPs. 

To date, we have:

Since 2000, we have:

We have been instrumental in the design of the variable distribution MLP, which has been used in nine recently completed MLP IPOs.

We Represent Clients in All Relevant Industries

Our clients include:

Due to our decades of involvement with MLPs, our lawyers have experience with MLPs in the midstream, downstream, upstream, LNG, coal, shipping, propane, heating and fuel oil, timber, petroleum coke, propylene, real estate and nitrogen fertilizer industries.

We Have Vast Experience

Our MLP practice includes lawyers with substantial tax, capital markets, finance and mergers and acquisition experience.  These lawyers work with their colleagues in our employee benefits, environmental and regulatory practices to provide clients sound and efficient advice on all MLP-related matters. 

Lawyers in our MLP practice have substantial experience in all matters relevant to MLPs, including:

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