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What To Look Forward To After The Grammys? Learn What A Master Limited Partnership Is At Hedge Funds Happy Hour, February 15, NYC

As reported by Bloomberg upon Jana Partners taking a 5.5% position in Marathon Petroleum, analysts including Deutsche Bank AG's Paul Sankey have suggested that the refining company should create a master limited partnership that would hold some or all of its 9,600 miles (15,450 kilometers) of pipelines and related assets. Such partnerships, which are traded on exchanges, allow companies to distribute cash generated by certain assets to shareholders without having to pay corporate taxes on the income, Eliecer Palacios, an energy sector specialist with Maxim Group LLC, said in a telephone interview.

What is a master limited partnership after all? Find out at Hedge Funds Happy Hour,, the longest-running hedge funds networking in New York City, which will congregate Tuesday February 15th a who's who of the alternative investments world for an evening of networking and cocktails. Managers, investors, quants, allocators, service providers and consultants will be back together for the world's best networking in the alternative investments community.

Previously, Jana Partners LLC had bought a 5.5 percent stake in Marathon Petroleum Corp (NYSE:MPC)., the refining company that split from its parent last year and is under pressure to split again by putting its pipeline business into a master limited partnership. The New York-based hedge fund acquired 19.7 million shares, including options, of Findlay, Ohio-based Marathon, valued at $636 million, according to a regulatory filing. Jana leaders have held talks with Marathon's management about the company's business strategy, assets and related matters, according to the filing. The fund purchased the shares from Nov. 22 to Jan. 11. Jana may continue to hold discussions with company leaders and board members, according to the filing.

Hedge Funds Happy Hour New York City is produced by Golden Networking (, the premier networking community for business executives, entrepreneurs and investors. Golden Networking has compiled the insights of top experts and industry practitioners and produced DVD Video Packages for its Leaders and Experts Forums, including:

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Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to Golden Networking has been frequently featured in the press, including recent articles in The Wall Street Journal, "Happy Hour for High-Frequency Trading", The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections", Los Angeles Times, "Speed-addicted traders dominate today's stock market", Reuters, "Revamp looms as trading experts huddle at SEC" and Columbia Business School's Hermes Alumni Magazine, "10 Under 10".