GasLog Partners LP

GasLog Partners LP

GasLog Partners LP was formed in 2015 by GasLog Ltd., a global owner and operator of LNG carriers founded by Greek shipping family the Koursakos family through the Livanos group. The partnership went public via an IPO in 2015, with GasLog Ltd. retaining a majority interest and serving as the sponsor. Wealth origin traces to the Livanos family's maritime shipping fortunes, though the Koursakos branch specifically built the modern GasLog platform. The strategy centers on acquiring LNG carriers from GasLog Ltd. under long-term, fixed-rate charters to top-tier energy customers including Shell, Cheniere Energy, and TotalEnergies (per public filings). The partnership targets investment-grade charters with durations typically exceeding five years, providing visible cash flow to support quarterly distributions. As of 2023, the fleet comprised 15 vessels including the GasLog Sydney and GasLog Glasgow (per the firm's 2023 annual report). Geographic exposure spans global LNG trade routes with cargoes destined for Europe, Asia, and the Americas. Total assets under management are estimated at roughly $2.5B based on reported fleet replacement cost and debt levels (Altss estimate). The partnership is externally managed by GasLog LNG Services Ltd., a subsidiary of GasLog Ltd., employing a lean corporate overhead structure. In February 2024, GasLog Partners LP was acquired by its parent, GasLog Ltd., in a take-private transaction valuing the equity at roughly $900M (per Reuters, February 2024), effectively dissolving the MLP structure. The structural differentiator of GasLog Partners LP was its MLP architecture, which obliged the partnership to distribute substantially all available cash to unitholders, a constraint that limited retained capital for fleet growth. This forced a reliance on debt and equity capital markets for vessel acquisitions and created a natural tension between distribution growth and balance sheet strength — ultimately resolved when GasLog Ltd. took the entity private.