{
  "docId": "019de06f-b0d4-72b6-83a3-62190f55042a",
  "docSlug": "912d149dcfb94328adfa785b32e9c56f",
  "documentTitle": "Morgan Stanley | Investment Banking Pitch Book | 24 slides",
  "authorId": "morgan-stanley",
  "authorName": "Morgan Stanley",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.380302,
  "pageNumber": 23,
  "pageCount": 24,
  "prevPage": 22,
  "nextPage": 24,
  "slideType": "data_table",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 250,
  "notes": "The slide uses red boxes to highlight specific institutional investors as 'Key Incremental Midstream C-Corp Investors'.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-b0d4-72b6-83a3-62190f55042a/23",
  "deckHref": "/decks/019de06f-b0d4-72b6-83a3-62190f55042a",
  "deckJsonHref": "/decks/019de06f-b0d4-72b6-83a3-62190f55042a.json",
  "deckAnchorHref": "/decks/019de06f-b0d4-72b6-83a3-62190f55042a#slide-23",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.68,
        "x": 0.28,
        "y": 0.89
      },
      "kind": "disclaimer",
      "text": "Source: Wall Street Research, Company Filings, Capital IQ. 1. As of most recent filings; excludes index funds and broker dealers. 2. Midstream C-Corps include: KMI, PAGP, TRGP, LNG, OKE, WMB, ENLC, TEGP, AMGP; excludes holders of only 1 peer",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2af206d8-ea1d-4707-91ad-2688639fd2f9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.65,
        "y": 0.86
      },
      "kind": "legend",
      "text": "Denotes Key Incremental Midstream C-Corp Investor",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2efb5a2-6f6a-4def-9416-db5ecde9068f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.22,
        "x": 0.06,
        "y": 0.23
      },
      "kind": "paragraph",
      "text": "There are several quality long-only Midstream C-Corp investors who can be incremental buyers of AMGP, given they are currently materially underweight AMGP",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dde29fb9-9554-4d31-8ae0-67a958d933d8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.68,
        "x": 0.28,
        "y": 0.22
      },
      "kind": "table",
      "text": "Table of investors and their positions in various Midstream C-Corps (AMGP, KMI, PAGP, TRGP, LNG, OKE, WMB, ENLC, TEGP)",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4501a6c2-e75b-43de-92f7-4ff8dfb38488",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.06,
        "y": 0.11
      },
      "kind": "title",
      "text": "Identifying Incremental Midstream Up-C / C-Corp Investors",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "52e9ea82-fecd-4dd1-9118-3a0739b677b9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.06,
        "y": 0.17
      },
      "kind": "title",
      "text": "Top Holders of Midstream C-Corps (1)(2)",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8c1160ae-f59d-4b8a-bb2a-0e78f05a510e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "6ab8cd76-ade3-4325-90ed-3625104c0779",
      "evidence": "table/data: Table of investors and their positions in various Midstream C-Corps (AMGP, KMI, PAGP, TRGP, LNG, OKE, WMB, ENLC, TEGP)",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 24,
      "from": 15,
      "beatId": "d833a950-b475-4595-8574-7af1c86f3103",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The document discusses pro forma trading considerations, peer trading metrics, and provides a conclusion",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}