Value investors in asymmetrically mispriced alternative real assets.Founder + Partner
Feb. 2024New York City Metropolitan AreaWe invest in misunderstood, mispriced real assets with risk-return asymmetry. Usually the arb exists and is sustained by excessive market fragmentation, obscurity/complexity, hyperlocal relational dependencies, or limited access to capital. Today, while industry agnostic, we see these opportunities in exploratory copper mining, energy/resources, and capital-efficient real assets. We just closed our 5th oil & gas royalty fund, own commercial and industrial real estate in NYC and Southern Florida, recently launched a physical gold trading business buying from artisanal miners capturing a small weekly arbitrage, and own the 3rd largest non-producing gold mine in LatAm. We're assembling a portfolio of family-owned, preproduction copper mines in Peru's copper belt that are backed by extensive technical validation and proven prospectivity. While we refrain from opining on commodity prices, there's an argument for copper's price to rise given that the escalating supply-demand imbalance for "the metal of electrification" is driven by the accelerated growth in AI (data centers=power), the future of transport (EVs), sustainability, and global grid upgrades. Always happy to evaluate deals with quick feedback (industry agnostic) - please reach out to me andrea@abhcm.com