Alternative Fund
HWG Alternative Investments
HWG Alternative Investments targets durable, hard-asset cash flow across the infrastructure and real-asset economy. Our objective is to compound capital alongside best-in-class operators by owning essential, hard-to-replicate assets — businesses and infrastructure with high barriers to entry, contracted revenue, and long-duration demand. Our focus spans utility-scale energy and transmission, data center campuses, digital infrastructure such as cell towers and fiber, waste and environmental services, the logistics and supply-chain value chain, and strategic commercial real estate — the infrastructure “halo” assets that sit where essential infrastructure, logistics, and CRE converge. We take Co-GP and JV equity positions in direct assets and at the platform level, pursuing cash-flowing value-add and development opportunities. We create value through disciplined entry pricing, operational improvement, contracted offtake, and selective development — and we protect it through conservative underwriting, governance rights, and structural alignment alongside our partners. Every opportunity is stress-tested to downside scenarios and to risk-adjusted outcomes through market cycles. Regional focus across North America and EMEA; preferred check size $75M–$250M, with capacity to $500M.
Sectors & Structures
Sectors and structures we focus on:
- Utility-scale energy infrastructure (renewables, battery storage, transmission) and data center campuses
- JV or LP structures with experienced operators; project-level SPVs or holdco-level investments with board participation preferred
Stage & Cash Flow
Stage and contracted cash flow:
- Prefer late-stage / pre-NTP, open to early-stage with strong power, land, and tenant agreements in place
- Anchored by long-term PPAs, leases, or hyperscaler contracts; upside via merchant power, RECs, or tax credits
Check Size & Focus
Check size and focus:
- Co-GP and JV equity, direct asset or platform-level investments
- Sector focus: energy, logistics, and infrastructure halo assets
- Check size $75M–$500M (preferred $75M–$250M)
- Board participation preferred where appropriate