Sector mandates
Six sectors, each governed by its own evidence standard.
Aurora does not apply a single underwriting template across dissimilar assets. Each sector carries a defined thesis, a set of conditions we require, and a set of risks we explicitly monitor.
Digital infrastructure
Compute, connectivity and sovereign data capacity are becoming regulated-utility-like inputs to national economies.
What we require
- Contracted anchor demand
- Power and grid position secured
- Sovereign or regulated workloads
What we monitor
- Technology obsolescence
- Power cost volatility
- Concentration in single tenants
Energy transition
Firming, storage and grid-adjacent assets carry the durable economics of the transition — not generation alone.
What we require
- Firmed or contracted revenue
- Interconnection certainty
- Credible offtake counterparties
What we monitor
- Merchant price exposure
- Curtailment risk
- Policy reversal
Essential real assets
Social, logistics and utility-like assets provide inflation-linked, demand-inelastic cash flows.
What we require
- Regulated or CPI-linked income
- Strategic locations
- Long lease or concession tenor
What we monitor
- Regulatory reset risk
- Capex intensity
- Obsolescence of use
Structured private credit
Secured lending against real assets delivers contractual return with structural downside protection.
What we require
- Senior security
- Conservative loan-to-value
- Enforceable covenants
What we monitor
- Collateral valuation drift
- Refinancing cliffs
- Borrower governance
Resources & critical minerals
Electrification and supply-chain security create structural demand for defined critical inputs.
What we require
- Defined resource and permits
- Offtake or strategic partner
- Tier-one jurisdiction
What we monitor
- Commodity cyclicality
- Permitting and social licence
- Cost inflation
Special situations
Complexity, not leverage, is the source of return where governance capability is scarce.
What we require
- Structural mispricing
- Control or influence rights
- Clear remediation path
What we monitor
- Legal complexity
- Counterparty distress
- Timeline uncertainty
Submitting a project for consideration.
Developers, advisers and government counterparties may submit opportunities for preliminary screening. Submissions are assessed against mandate fit before any diligence is commenced.
Submit a projectImportant information
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