Energy Infrastructure

Energy is civilization. Without it, nothing works.

The Reality

Despite what headlines say, the world runs on fossil fuels. Oil, gas, and coal still provide ~80% of global energy. This won't change overnight.

At the same time, electricity demand is exploding — AI, EVs, data centers, electrification. The grid needs massive investment.

This creates opportunity.

What We Focus On

Oil & Gas

• Still essential. Still underinvested.
• Years of underinvestment means supply constraints
• Cash-flowing assets with real dividends
• Not going away anytime soon

Uranium & Nuclear

• The only scalable clean baseload power
• Massive supply deficit emerging
• AI data centers need 24/7 reliable power
• Multi-decade bull market beginning

Grid Infrastructure

• Transmission lines, transformers, substations
• Decades of underinvestment
• Bottleneck for all electrification
• Essential for renewables integration

Energy Storage

• Batteries, pumped hydro, other storage
• Critical for grid stability
• Growing exponentially with renewables

Our Thesis

Energy demand is growing. Supply is constrained. Infrastructure is the bottleneck.

We invest in the assets that will power the next 50 years — regardless of which technologies win.