Energy investment manager Tortoise Capital Advisors in 2012 set apart its Tortoise Capital Resources Corp. unit as a new firm, CorEnergy Infrastructure Trust Inc. It charged CorEnergy with an unusual mission: Acquire midstream assets and hold them in a real estate investment trust (REIT)—an unusual corporate structure in a sector where most public firms are either MLPs or conventional corporations, and where private-equity-backed operations are common. A REIT owns but cannot operate assets, and CorEnergy’s assets are leased to upstream producers or midstream operators. CorEnergy’s CEO took a few moments to visit with Midstream Business to discuss why its concept has worked and why he feels midstream REITs have a bright future.

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