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And don't miss Liam Denning on how Blackstone Group LP is making master limited partnerships interesting: "If a greater role for more 'discerning' capital helps prod pipeline companies to focus on sustainable growth in profits per share rather than number of shares outstanding and do away with anachronisms like incentive distribution rights, so much the better. In some cases, if the case for a new project is compelling enough, it may mean abandoning the MLP structure altogether. In any event, Blackstone's latest addition puts it squarely at the center of the transition."
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