According to the Liberty Street Advisors, the fund’s sub-advisor will be Center Coast Capital Advisors, a Houston-based investment advisor, led by founder and CEO Dan Tutcher.

Midstream MLPs generally build, own, and operate the physical assets that support US energy infrastructure, such as pipelines and storage facilities. They act very much like ‘toll collectors’, generating revenue via the transportation, processing, and storage of natural resources.

Liberty Street Advisors CEO Timothy Reick said the Center Coast MLP Focus Fund was created in direct response to market turmoil and the high degree of uncertainty over the past several years.

"Our goal was to create an investment vehicle that would capitalize on an asset class that has historically provided investors with stable and attractive, tax advantaged income, provided the potential for capital appreciation, and had a strong history of growing distributions faster than inflation. Equally as important, the investment vehicle had to be one that the everyday investor could easily understand," Reick said.

Tutcher founded Center Coast Capital in 2007, and has more than 30 years of experience owning, managing, and acquiring MLPs. Prior to forming Center Coast, he was president of Enbridge Energy, and president and director of Enbridge Energy Partners.

Prior to his time at Enbridge, Tutcher founded and was CEO of MidCoast Energy Resources, which he merged into Enbridge in 2001 (a $900m transaction).

In addition to Tutcher, the fund will be managed by Center Coast co-founders Steven Sansom and Darrell Horn, as well as senior portfolio manager Robert Chisholm.

Chisholm, an MLP merger and acquisition (M&A) specialist, has worked with Tutcher for the past nine years. He previously worked at Enbridge Energy Partners as senior project analyst and at Koch Industries. Chisholm also worked in Morgan Keegan’s Energy Investment Banking Division.

Sansom and Horn worked for Goldman Sachs’ Investment Management division and created Green Square Capital, an SEC-registered investment advisor, in 2001, before co-founding Center Coast Capital along with Mr. Tutcher in 2007.