Investments

Aether focuses on private, upstream investments in natural resources globally. Our primary sectors include oil and natural gas, metals and minerals and agriculture and timber. We opportunistically consider other real assets sectors, though we do not invest in commercial or residential real estate.

We have a bias toward smaller, often less efficient investment opportunities but will consider any opportunity provided the capitalization is right-sized for the strategy. Across all sectors, we seek investments where opportunities exist to add significant value post investment. We favor strategies focused on equity investments but may selectively consider credit and debt-oriented strategies. Investments that depend on high leverage or technological innovation to generate returns are typically avoided.

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Oil and Natural Gas

  • Primary focus on upstream, with select consideration of midstream and products/services
  • Preference for operated strategies focused on the acquisition of working interests
  • Consideration across the development curve, but generally avoid exploration-focused strategies

Metals and Minerals

  • Consideration across the spectrum of precious metals, base metals, minor metals, industrial minerals and bulk commodities
  • Consideration across the development curve, but generally avoid exploration-focused strategies
  • Country agnostic but avoid unsafe or unproven mining jurisdictions
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Agriculture and Timber

  • Consideration across the spectrum of agriculture commodities and timber
  • Preference for production-oriented strategies
  • Select consideration of midstream and products/services

Other Real Assets

  • Consideration of opportunistic sectors that display characteristics similar to the primary sectors listed above, such as water, power, alternative energy and capital assets
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