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Commodities are unique and idiosyncratic markets. Our experience, portfolio construction and fundamental approach allow us to navigate these markets and extract unique and idiosyncratic returns for your portfolio.
As we enter the third major energy transition in humanity’s history, commodities are at the core of this transformation. An energy revolution based on renewables and energy efficiency will have sweeping effects across sectors, reshaping everything from electricity markets to infrastructure to transportation. Sweeping disruptions will ripple from the commodities space outward, creating a broad universe of investment opportunities.
- Renewables & CleanTech
- Power & Energy
- Metals & Raw Materials
- Agriculture & Livestock
Our biggest focus is the advancements in renewable energy and clean technologies. New paradigms in energy efficiency and conservation have spurred rapid development of emerging technologies and industries. The energy transition will merge the power of tech with the industrial elements of the economy, and usher in a new age of industrial revolution.
As sectors evolve and new sectors emerge, there will be ample investment opportunities to generate alpha by taking advantage of the volatility and misconceptions that come with change.
The rise in renewable power generation is disrupting global power markets across the supply chain. The traditional power cost curve has been in contango; we anticipate the cost curve shifting into steep backwardation moving forward. This will affect a variety of industries and commodities, creating highly tradable opportunities as renewable electricity and storage pricing reach grid parity across the globe.
The energy transition has catalyzed change across raw materials markets. Changing dynamics in supply/demand balances and consumption patterns of input materials, such as aluminum, lithium, polysilicon, copper, and rare earths, are rippling down the supply chains. This presents a diverse, alternating, and expansive set of opportunities to generate alpha.
Energy is a pivotal input to agricultural production. The disruption of the energy transition and a focus on emission reductions will alter fundamentals, supply/demand dynamics and increase volatility across the agricultural industry.