The top 5 themes that keep re-appearing in our discussions with investors
- Inflation protection
Mining is the first piece of the entire industrial production chain and any cost increases are passed on, making mining the perfect inflation hedge
- Shift away from oil & gas
Extractive industry expertise amongst LPs while still wanting real asset and commodity exposure (Appian is absorbing capital from LPs not re-upping with Oil & Gas funds)
- Energy transition exposure
Thinking through the smartest tactical allocation. Same exposure with mining although mid 20% IRR vs single digits with renewables
- ESG
LPs are doing work on this thematic but more education is resulting in the view that mining is part of the solution rather than part of the problem
- Widening geopolitical tensions
Competition for critical minerals is becoming the next battleground with governments striving for greater self-sufficiency and diversification of the supply of battery and other critical metals
About Igneo Infrastructure Partners
Igneo is a global infrastructure investment manager and is an autonomous investment team in the First Sentier Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation / logistics sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management.
Igneo manages US$29.7 billion worth of assets (as at 30 June 2026) on behalf of more than 200 investors around the world.
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An affiliate of First Sentier Group