Bringing you live news and features since 2006 

OppenheimerFunds acquires MLP investment manager SteelPath


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

Amundi’s ETF Market Flows Analysis for May finds that global ETF inflows were EUR105.1 billion with US-domiciled equity funds accounting..
MerQube has announced the appointment of Dave Mueller as Chief Financial Officer. Mueller brings 17 years experience operating in corporate..
Northern Trust Asset Management (NTAM), has announced that David Abner is joining as Head of Global ETFs and Funds...
Nvidia’s market cap surge to more than USD3 trillion making it the second most valuable company in the world almost..

Related Articles

CN Tower, Toronto
The winners were announced in the second ETF Express Canadian awards at the event held at The Quay in Toronto,...
Darren Johnson, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Stuart Chaussee
In January this year, global data and business intelligence platform, Statista reported that there are now more than 8000 ETFs...
Ethereum coin
Last week saw Australia launch spot bitcoin ETFs, with Matteo Greco, Research Analyst at Fineqia International, writing that Monochrome Asset...
Subscribe to the ETF Express newsletter

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

Marketing by