Power Revolution

Electricity is the critical input to modern economies. After decades of relatively stable demand in developed markets, consumption is accelerating again as AI data centers expand, transport and heating electrify, and industry raises power intensity.

Our Power Revolution theme captures this multi-year investment cycle across the power system, focusing on the companies that produce, move, and stabilize electricity at scale.

We invest in market leaders with visible demand, strong pricing power and solid balance sheets across utility-scale power generation, grid equipment and services, and energy storage systems that provide flexibility and reliability.

The strategy is technology-agnostic and disciplined: we allocate capital to the parts of the power value chain where growth is structural and pricing power is supported by bottlenecks, not narratives.