NEW YORK, Dec. 4, 2012 /PRNewswire/ -- OppenheimerFunds, Inc., announced it has successfully completed its acquisition of SteelPath Capital Management and SteelPath Fund Advisors ("SteelPath"). An innovative and leading edge 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 were not disclosed. SteelPath is now named OFI SteelPath, Inc. OppenheimerFunds Distributor, Inc. is now the general distributor and principal underwriter for each series of The SteelPath MLP Funds Trust. "Through their innovative product design, SteelPath has become a recognized leader in the energy infrastructure space in only eight years. We're excited to bring their investment expertise and thought leadership to our clients," said Bill Glavin, Chief Executive Officer, OppenheimerFunds, Inc. "SteelPath is a natural addition to OFI's investment boutique structure and expansion of our alternative product lineup." Gabriel Hammond, Founder and Chief Executive Officer, SteelPath said: "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 $3.3 billion in assets under management as of November 30, 2012, SteelPath has a market leading position and eight-year track record in MLP investing, including an investment team with over 50 years of combined experience in investing and analyzing MLPs. The firm is a leading innovator in developing MLP investment products and was first to market with MLP-focused open-end mutual funds providing investors transparent access to this growing asset class. The MLP structure has evolved to become the dominant form of organization used by energy infrastructure operators, similar to how real estate investment migrated to the REIT structure. Energy infrastructure assets include crude oil, petroleum products, and natural gas pipelines, tanks, terminals, and storage facilities characterized by their strategic importance and long useful lives. As the outlook for domestic oil and gas production has shifted from perpetual decline to strong and long-term growth, demand for energy infrastructure has been increasing and is expected to increase to meet these logistical needs creating a strong macro trend for this asset class.