Convective Field Notes · 26 October 2026 · Industry Analysis

Dry Years and Dry Powder

Convective Capital

Infrastructure funds are discovering aerial firefighting as an investment opportunity following a landmark deal, but the industry's seasonal volatility and unpredictable demand present real risks of mandate creep and potential bankruptcies if investors overpay or over-leverage.

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Topics: Energy & Climate · Venture Capital & Startups

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