Investment Results (%)
Portfolio Characteristics
Top 10 Portfolio Businesses
Related Thinking
Investment Strategy
The Power Behind AI
Artificial intelligence is becoming an energy and infrastructure story. As data center demand surges, power is emerging as a critical constraint and a potential source of long-term opportunity across generation, transmission, and distribution.
Investment Strategy
Beyond the Multiple
At Sands Capital, valuation starts with the business, not the multiple. We assess expected return through long-term earnings power, competitive advantage, and portfolio context to pursue attractive opportunities.