SteelPath was an American investment advisory firm based in Dallas, Texas that specialized exclusively in master limited partnerships ("MLPs").

The company created the Alerian MLP Index (NYSE: AMZ), which was the first of its kind and is now broadly considered to be the benchmark for the Master Limited Partnership asset class.

In March 2010, the active management side of the business was re-branded as SteelPath and spun off from Alerian and shortly thereafter created a family of open-ended mutual funds focused on Master Limited Partnerships.

These companies are the energy infrastructure analogue to real estate investment trusts (“REITS”), and similarly do not have entity level taxation, while trading on public stock exchanges.

[6] Historically, MLPs were difficult for many investors to hold directly, due to the multiple state partnership tax returns (K-1s) that needed to be filed for each MLP.