FacultyFaculty/Author Profile
C. Timothy Fenn

C. Timothy Fenn

Latham & Watkins LLP

Houston, TX, USA


Charles Timothy (“Tim”) Fenn is a partner in the Houston office with a particular focus on business taxation as it applies to partnerships. He represents publicly traded partnerships, master limited partnerships (MLPs) and other clients in the energy sector, as well as corporations, private equity firms, investment banks, partnerships and individuals on tax-related issues involving mergers, acquisitions, restructurings and capital market transactions.

Expertise
  • Master limited partnerships (MLPs)
  • Upstream
  • Midstream
  • Downstream
  • Oilfield services
Mr. Fenn has served as tax counsel to over 50 issuers and underwriters in initial public offerings of equity securities of MLPs. Mr. Fenn is a frequent speaker at investment banking conferences and MLP industry symposiums and serves on the advisory board for the Alerian MLP indexes.

Experience

Mr. Fenn offered tax advice with respect to the following M&A transactions:
  • LinnCo LLC — US$4.3 billion acquisition of Berry Petroleum Co.
  • Global Infrastructure Partners — US$2.16 billion acquisition by Access Midstream of Chesapeake Midstream Operating, LLC
  • Energy Transfer Equity, L.P. — US$9.4 billion acquisition of Southern Union Company
  • Enbridge Energy Partners, L.P. — joint venture with Enterprise Products Partners L.P. and Anadarko Petroleum Corporation to develop the Texas Express NGL pipeline to gather and transport NGLs from West and Central Texas to the Mont Belvieu hub
  • Suburban Propane Partners LP — US$1.8 billion acquisition of Inergy Propane LLC
  • Howard Midstream Energy Partners, LLC — US$76 million acquisition of Texas Pipeline LLC and Bottom Line Services
  • American Infrastructure MLP Fund, L.P. — US$27 million investment in Empire Petroleum Partners to fund the acquisition of Empire Petroleum Holdings, LLC
Mr. Fenn offered tax structuring advice related to the following Capital Markets transactions:
  • MPLX LP — public offering
  • Seadrill Partners LLC — US$192.5 million initial public offering
  • Rentech, Inc. — US$300 million initial public offering
  • Pacific Coast Oil Trust — US$370 million initial public offering
  • American Midstream Partners, LP — US$78.7 million initial public offering
  • Tesoro Logistics LP — US$273 million initial public offering
  • Enduro Royalty Trust — US$370 million initial public offering
  • US $437 million initial Thought Leadership
  • MLP IPO Trends
  • IRS Confirms Qualification of Certain Types of Oilfield Service Income for MLPs
Education

JD, Georgetown University Law Center, 1996, magna cum laude; Editor, Georgetown Law Journal
BBA, Baylor University, 1992, summa cum laude

Bar Qualifications

New York, Texas

Languages

English

Recognition Highlights

Tim Fenn is recognized "as one of the top authorities on MLPs." Chambers USA 2013
Recognized for his energy industry focused tax advice by The Legal 500 US 2013
"Mr. Fenn’s clients say he is 'extremely intelligent and able to convey a complicated message.'" Chambers USA 2012
"Leader in his Field" in Chambers USA 2011-2012
Named among The Best Lawyers in America in tax law, 2010-2014
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