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  "documentTitle": "Morgan Stanley | Investment Banking Pitch Book | 42 slides",
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  "authorName": "Morgan Stanley",
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  "presentationDate": "2018-03-01 00:00:00",
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  "nDataPoints": 32,
  "notes": "Project Alpine, Morgan Stanley slide 11.",
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      "text": "2021E GP Take",
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      "text": "16 simplification transactions have occurred over the past 3 years, 11 in the past year alone. By 2021, AMGP's share of AM's total DCF is equal to that of PSXP and higher than all other peers. Most simplification transactions have occurred once GP take reaches the 30% - 35% range",
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      "text": "Source: Company disclosure, Capital IQ",
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