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Partners' Capital and Distributions (Tables)
12 Months Ended
Dec. 31, 2023
Partners' Capital Notes [Abstract]  
Schedule of Changes in Number of Shares Outstanding

The changes in the number of shares of the Company outstanding from December 31, 2020 through December 31, 2023 are as follows:

 

 

Class A Shares

 

 

 

 

 

 

 

 

 

 

 

Public

 

Sponsors

 

 

Total Class A Shares

 

 

Class B Shares
Sponsors

 

 

Total Class A and Class B Shares

 

Balance, December 31, 2020

 

17,130,308

 

 

898,000

 

 

 

18,028,308

 

 

 

266,416,928

 

 

 

284,445,236

 

Equity-based compensation

 

118,760

 

 

-

 

 

 

118,760

 

 

 

-

 

 

 

118,760

 

Equity offering transaction -
   March 2021

 

6,900,000

 

 

-

 

 

 

6,900,000

 

 

 

(6,900,000

)

 

 

-

 

Equity offering transaction -
   October 2021

 

8,625,000

 

 

-

 

 

 

8,625,000

 

 

 

(8,625,000

)

 

 

-

 

Repurchase Transaction

 

-

 

 

-

 

 

 

-

 

 

 

(31,250,000

)

 

 

(31,250,000

)

Balance, December 31, 2021

 

32,774,068

 

 

898,000

 

 

 

33,672,068

 

 

 

219,641,928

 

 

 

253,313,996

 

Equity-based compensation

 

95,778

 

 

-

 

 

 

95,778

 

 

 

-

 

 

 

95,778

 

Equity offering transaction -
   April 2022

 

10,235,000

 

 

-

 

 

 

10,235,000

 

 

 

(10,235,000

)

 

 

-

 

Repurchase Transaction

 

-

 

 

-

 

 

 

-

 

 

 

(13,559,322

)

 

 

(13,559,322

)

Balance, December 31, 2022

 

43,104,846

 

 

898,000

 

 

 

44,002,846

 

 

 

195,847,606

 

 

 

239,850,452

 

Equity-based compensation

 

99,801

 

 

-

 

 

 

99,801

 

 

 

-

 

 

 

99,801

 

Repurchase Transaction -
   March 2023

 

-

 

 

-

 

 

 

-

 

 

 

(3,619,254

)

 

 

(3,619,254

)

Equity offering transaction -
   May 2023

 

12,765,000

 

 

-

 

 

 

12,765,000

 

 

 

(12,765,000

)

 

 

-

 

Repurchase Transaction -
   June 2023

 

-

 

 

-

 

 

 

-

 

 

 

(3,350,084

)

 

 

(3,350,084

)

Equity offering transaction -
   August 2023

 

11,500,000

 

 

-

 

 

 

11,500,000

 

 

 

(11,500,000

)

 

 

-

 

Repurchase Transaction -
   September 2023

 

-

 

 

-

 

 

 

-

 

 

 

(3,301,420

)

 

 

(3,301,420

)

Repurchase Transaction -
   November 2023

 

-

 

 

-

 

 

 

-

 

 

 

(3,370,407

)

 

 

(3,370,407

)

Balance, December 31, 2023

 

67,469,647

 

 

898,000

 

 

 

68,367,647

 

 

 

157,941,441

 

 

 

226,309,088

 

 

Schedule of Distributions Declared and Paid The following table details the distributions declared and/or paid for the periods presented:

 

Period

 

Record Date

 

Distribution Date

 

Distribution per Class A Share

 

First Quarter 2021

 

May 3, 2021

 

May 13, 2021

 

$

0.4526

 

Second Quarter 2021

 

August 9, 2021

 

August 13, 2021

 

$

0.5042

 

Third Quarter 2021

 

November 4, 2021

 

November 12, 2021

 

$

0.5104

 

Fourth Quarter 2021

 

February 3, 2022

 

February 14, 2022

 

$

0.5167

 

First Quarter 2022

 

May 5, 2022

 

May 13, 2022

 

$

0.5492

 

Second Quarter 2022

 

August 4, 2022

 

August 12, 2022

 

$

0.5559

 

Third Quarter 2022

 

November 3, 2022

 

November 14, 2022

 

$

0.5627

 

Fourth Quarter 2022

 

February 2, 2023

 

February 13, 2023

 

$

0.5696

 

First Quarter 2023

 

May 4, 2023

 

May 12, 2023

 

$

0.5851

 

Second Quarter 2023

 

August 3, 2023

 

August 14, 2023

 

$

0.6011

 

Third Quarter 2023

 

November 2, 2023

 

November 14, 2023

 

$

0.6175

 

Fourth Quarter 2023(1)

 

February 8, 2024

 

February 14, 2024

 

$

0.6343

 

 

(1)
For more information, see Note 14, Subsequent Events.