master limited partnership

Also found in: Medical, Acronyms, Encyclopedia, Wikipedia.

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 ?
Standard & Poor's also issued a white paper today discussing Master Limited Partnerships.
Tortoise Energy Capital provides financing primarily for master limited partnerships (MLPs) in the energy infrastructure sector.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and The Newkirk Master Limited Partnership to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Newkirk Master Limited Partnership reported revenues for the three months ended September 30, 2005 of $61.
Further information about these matters and the risks generally with respect to The Newkirk Master Limited Partnership can be found in The Newkirk Master Limited Partnership's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission as well as Newkirk Realty Trust, Inc.
Swank Capital, located in Dallas, has one of the premier franchises in Master Limited Partnership investing.
Alerian Capital Management, LLC, a registered investment advisor that manages portfolios exclusively focused on energy master limited partnerships in both the private and public equity markets.
2) the ability of the master limited partnership to complete an initial public offering of common units representing limited partner interests on terms which are satisfactory to AmeriGas, in its sole discretion;
3) the restructuring of certain indebtedness of Petrolane and AmeriGas Propane on terms satisfactory to AmeriGas, in its sole discretion, to allow the merger, the formation of the master limited partnership and the public offering of master limited partnership units; and
Unlike direct investments in Master Limited Partnerships, investors will not receive K-1s from the underlying partnerships, but will instead receive a Form 1099 reflecting the distribution pass through as ordinary income.
The Alerian MLP Index is a composite of the 50 most prominent energy master limited partnerships and is calculated by Standard & Poor's using a float-adjusted market capitalization methodology, providing an unbiased, comprehensive benchmark for the performance of this emerging asset class.