Meeting Rising Energy Demand Through a Diversified Infrastructure Strategy
Global energy demand continues to rise, fueled by population growth, an increasingly digital economy and an accelerating push toward electrification. That demand growth is creating opportunities across the energy spectrum, and IMCO is positioned to capture them. Through our Infrastructure strategy, we invest in a range of energy assets that help meet demand reliably, affordably and sustainably, while delivering the stable, inflation-protected returns our clients rely on.
Clean Energy: Powering the transition
Clean energy plays an important — and growing — role in meeting rising energy demand as countries pursue netzero goals. The energy transition will require significant longterm investment in infrastructure that adds clean supply and improves reliability, including assets that generate renewable power, transmit it or store it for use when it’s needed most. IMCO invests directly in companies positioned to benefit from this build-out, helping expand power supply today while supporting the energy system’s evolution over time. Learn more here.
Conventional Energy: Market-aware investing that supports reliability
While clean energy will play an increasingly important role in meeting global demand, conventional energy will remain an important part of the mix for the foreseeable future.
Our market-aware approach starts with understanding where consumption is rising, what infrastructure is required and whether an asset can generate steady, inflation-resistant cash flows over time. We prioritize investments that expand supply, add flexibility or help bring new generation online while maintaining reliability.
Pembina Gas Infrastructure: Market-aware investing in action
As conventional energy remains essential to meet rising energy demand, so too is the infrastructure that supports it. That includes the systems that gather, process and move natural gas from producing regions to the markets they serve.
In 2026, IMCO participated in a co-investment in Pembina Gas Infrastructure, one of the largest gas gathering and processing platform in the Western Canadian Sedimentary Basin, a key source of Canadian natural gas supply. With assets across Alberta and British Columbia, PGI plays an important role at the start of the gas value chain by processing raw natural gas so it can move safely and efficiently through the broader energy system.
Importantly, PGI is taking steps to reduce the emissions intensity of its operations, with some of its gas processing plants connected to the B.C. power grid and powered entirely by clean electricity.
For IMCO, the investment provides exposure to essential Canadian energy infrastructure with long-life assets and stable, contracted cash flows that are expected to deliver strong income and return our capital over the life of the investment. The investment fits our Infrastructure strategy and adds important diversification alongside our clean energy investments.
Exolum: Demonstrating the breadth of our conventional energy capabilities
IMCO's conventional energy investing also extends beyond North America and across the broader energy value chain. Our investment in Exolum, a leading European energy logistics company focused on the storage and transportation of liquid fuels, has provided stable, inflation-linked cash flows to the portfolio since 2016. The business has demonstrated resilience through changing market conditions, including during periods of fuel supply disruptions, underscoring the importance and criticality of secure, well-functioning logistics networks.
Our investment in Exolum reflects our conviction in conventional energy, supported by strong returns from existing holdings and expertise across the value chain. Exolum adds to our growing track record in essential energy infrastructure and reinforces the role conventional energy can play in a diversified, resilient Infrastructure portfolio.
Together, investments such as Pembina Gas Infrastructure and Exolum illustrate the breadth of IMCO’s conventional energy capabilities. They show how we invest selectively across geographies and asset types, with a focus on essential infrastructure that supports energy reliability while strengthening portfolio diversification and resiliency.
A balanced strategy for a changing energy system
IMCO’s Infrastructure platform is built to generate resilient, inflation-protected returns through disciplined investment in high-quality real assets that benefit from durable demand. In energy, that means being positioned for rising global consumption and the electrification build-out while remaining pragmatic about the role conventional energy will continue to play, particularly in certain markets. By investing across the spectrum and applying a market-aware lens, we seek to capture the opportunities demand growth creates and help support the reliable energy systems economies depend on.
This approach complements our broader diversification across utilities, transportation and digital infrastructure, strengthening IMCO’s total portfolio through economic cycles.