Recurrent Investment Advisors LLC

Recurrent provides discretionary portfolio management and sub‑advisory services to registered investment companies, pooled vehicles, and separately managed accounts for institutional and high‑net‑worth investors, including pensions, endowments, regional banks, and family offices. The firm reports approximately $1.381 billion in regulatory assets under management, all managed on a discretionary basis as disclosed in its brochure.

The firm concentrates on energy and natural resources strategies, primarily investing in U.S. publicly traded equity and debt securities, energy infrastructure companies, and master limited partnerships (MLPs), and may employ derivatives and high‑yield debt in pursuit of capital appreciation and income. Investment decisions emphasize fundamental, company‑level research and proprietary valuation analysis—notably an enterprise‑value‑to‑invested‑capital (EV/IC) framework for midstream and infrastructure issuers—to guide security selection and portfolio construction.

Distinctive aspects noted in the brochure include active management of a 1940 Act registered open‑end investment company (the Recurrent MLP & Infrastructure Fund, launched in 2017) alongside separately managed and pooled accounts, and the firm’s willingness to serve as a sub‑adviser to other advisers. The combination of those product types together with reported AUM at the scale disclosed—relative to the firm’s compact advisory organization—marks a different operating profile than many peers.