Principal capital.
Institutional scale.
A private investment office originating and evaluating large-scale opportunities globally.
Principal capital for large-scale opportunities
Our mandate
First Principal originates, evaluates and structures institutional-scale investment opportunities across infrastructure, energy and essential industries, focusing on assets, projects and platforms that require a minimum equity investment of US$200 million. Our maximum investment capacity is not publicly disclosed.
We invest and co-invest in institutional-quality assets, ready-to-build projects and bankable development opportunities capable of producing durable, predictable long-term revenue.
We prioritize direct investment into project companies and special-purpose vehicles, while remaining open to alternative structures where the economics and strategic rationale are compelling.
Investment criteria
What we look for
- Minimum equity requirement
- US$200 million.
- Geography
- Global.
- Investment stages
- Operating assets, projects under construction, ready-to-build projects, bankable greenfield developments, growth platforms and project pipelines.
- Investment structures
- Direct asset investments, project-level equity, special-purpose vehicles, co-investments, joint ventures, platform investments, strategic acquisitions and structured transactions.
Focus areas
Where we invest
We evaluate opportunities across power and energy, oil and gas, transportation, water and digital infrastructure.
- Power & Energy
- Solar, wind, hydroelectric, waste-to-energy, gas-fired generation, transmission and storage.
- Oil & Gas — Upstream
- Exploration, production and development-stage assets.
- Oil & Gas — Midstream
- Pipelines, gathering and processing, compression and storage terminals.
- Oil & Gas — Downstream
- Refineries, petrochemical facilities and fuel distribution.
- Transportation
- Roads, airports, seaports, railways and logistics infrastructure.
- Water
- Treatment, desalination, pipelines, storage and distribution.
- Digital Infrastructure
- Data centres and mission-critical connectivity.
About First Principal
Headquartered in North America
First Principal is a private investment office headquartered in North America, acting as the analytical and execution layer between the market and the principal.
We source opportunities, conduct initial underwriting, coordinate diligence, challenge assumptions, structure transactions and formulate investment recommendations. The principal retains final investment authority.
Our mandate is international — we evaluate assets, projects and platforms globally, based on their underlying investment merit rather than any single jurisdiction or market.
Present an opportunity
Work with First Principal
We engage with asset owners, project developers, sponsors, operators, governments and strategic partners seeking institutional-scale equity capital.
Please include the total capital requirement, equity requirement, project location, development status, ownership structure and key financials.