master limited partnership

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Master limited partnership (MLP)

Master Limited Partnership

A limited partnership with ownership units that may be traded on an exchange. A limited partnership consists of a general partner, who manages the venture, and limited partners, who simply provide capital. A master limited partnership allows limited partners to buy and sell units of the venture as if they were shares in a publicly-traded company. Limited partners often receive cash distributions, which are similar to dividends, on a regular basis. This business form combines the tax advantages of a partnership, which does not pay tax on its profit, with the liquidity of a publicly-traded company. It is also called a publicly traded partnership.

master limited partnership (MLP)

A limited partnership that provides an investor with a direct interest in a group of assets (generally, oil and gas properties). Master limited partnership units trade publicly like stock and thus provide the investor significantly more liquidity than ordinary limited partnerships. See also roll-up.
References in periodicals archive ?
The company's products, marketed under the brand name BABY, Unibol and MLPS, support the migration of IBM AS/400 screens and applications to Windows, UNIX, Linux and the Web and loan processing applications for financial institutions.
Concentration Risk: Under normal circumstances, the Fund concentrates its investments in the energy infrastructure sector, with an exclusive emphasis on securities issued by MLPS.