Our Focus

Refraction manages an investment footprint that covers the energy industry and the sub-sectors that feed into it. We look at each individual company from the engineering through to the financial analysis and build our macroeconomic understanding based on a “basin by basin” approach until we understand the facets which make up a country’s dynamic economy. We look at every public company from a minimum market capitalization of US$100mm to XOM & every private who will talk to us. We are a global insight provider and our insight & relationships allow us to gain a competitive advantage and access deal flow.

We invest in all parts of the capital structure, including debt, equity, options, derivatives and we will go long & short companies. All investments must be able to be marked (grey or lit exchanges), unless requested by our Limited Partners or the Engagement Agreement.

We will often employ macro-overlays and system strategies, thoroughly tested for parallel and event risk to manage our market exposures. We are focused on understanding opportunities in the fields of:

Research & Development

  • Artificial Intelligence (Active and semi-active learning suite development)
  • Applied Sciences (Aerospace & Defense systems)
  • Electrical Hardware (Business solutions & GPU development)
  • Biomedical Engineering (neurological solutions)

Asset Exploration, Development & Exploitation

  • Upstream Onshore (conventional / unconventional) & Offshore (except Ultradeep)
  • Midstream (Pipelines, Trading, Distribution, Transmission)
  • Downstream (Chemicals / Plastics / Refineries / Distribution)
  • Services (Pumping, Fracking, Drilling, Logistics, Camp/Catering, Kit)
  • Engineering (Fabrication, Tools, Consulting, Procurement, Civil & Systems Engineering)

Support Industries

  • Commercial logistics (Rail, Air, Freight)
  • Government consulting / Civil Consulting Engineering
  • Business as Service Applications for the energy industry
  • Financial Services (Asset Managers, Tier 1 Banks)