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Private Real Assets

PA Capital invests in global Low Mid Market private natural resource opportunities with a focus on North America. We leverage over 20 years of relationships and data insights to capitalize on value-driven opportunities and market dislocations with a focus on total return.

Access to the Low Mid Market

We believe this segment of the private natural resources market offers key advantages relative to the larger market, public natural resources, and other traditional private equity strategies:

  • Enhanced total return potential across market and commodity cycles
  • More control over capital deployment, which enables patient development of assets to maximize value
  • Lower purchase prices with limited (or no) leverage
  • Potential inflation protection and lower correlation to public markets
  • Enhanced terms, conditions, and alignment of interests

Our Dedicated Private Real Assets Strategies

Multi-Manager

Since 2014, PA Capital has completed more than 15 private real assets fund and secondary investments representing over $300 million. Our deep relationships in the real assets space enable robust sourcing of opportunities from top-tier funds and management teams.

The commingled multi-manager vehicles typically target:

  • Core exposure to 6-12 established and emerging funds typically raising <$500 million with a sector or value chain specialization
  • Fund investments typically ranging from $10 - $30 million in size
  • Complementary exposure to co-investments and secondary transactions

Direct Co-investments

Since 2014, PA Capital has completed more than 30 real assets direct co-investments representing over $250 million.

We aim to make thematic direct equity investments in private companies across natural resources sectors and value chain alongside trusted partners, targeting:

  • Investment sizes between $3 and $20 million each
  • Small, well-capitalized businesses with minimal to no debt
  • Complementary exposure to concentrated secondary transactions
“Risk mitigation, asset specialization, and navigating complexity are three critical attributes of private real assets investing that we believe require a trusted partner to achieve your long-term investment objectives.”

Our Approach

We employ a value-oriented and thematic approach to investing in private natural resources and seek to diversify exposure by sector and value chain. We believe that illiquid investments should deliver a private equity-like total return. We invest across infrastructure, upstream oil and gas, mineral royalties, services companies, metals and mining, energy transition, agriculture, renewables, aviation, rail, transport, timber, and other non-traditional real assets. Uncovering and accessing the most compelling opportunities requires a consistent presence, deep relationships, and robust data capabilities. We are your trusted partner in accessing the Low Mid Market for Private Real Assets.

“We believe the collective knowledge and network of our platform is vital to strong decision-making; we foster a team-based culture predicated on collaboration and information sharing.”
37

Total PA Capital Investment Professionals

23

Avg. Years Experience of Senior PA Capital Team

11

Private Real Assets and ODD Professionals