Hastings-managed clients acquire further 50 percent of UK South East Water
Hastings Funds Management Limited announced today that it had completed the acquisition from La Caisse de dépôt et placement du Québec (CDPQ) of a further 50 percent of South East Water (SEW) on behalf of entities within the Desjardins Group and other managed clients.
Hastings managed fund Utilities Trust of Australia (UTA) will maintain ownership of the other 50 percent stake in SEW, which means that Hastings will manage 100 percent of the equity in the utility.
SEW is the largest water-only company by regulated capital value in England and Wales. SEW provides water to approximately 2.1 million people in the South East of England. SEW is regulated by the water regulator Ofwat and operates under a perpetual license.
Hastings CEO Andrew Day said:
“In an increasingly competitive infrastructure market we are able to provide our clients with access to unique opportunities borne from our deep global networks and long-standing relationships. In the present case we were delighted to provide the SEW investment opportunity to Hastings’ existing and new clients.”
Frederic Angers, Head of Infrastructure at Desjardins said:
“Investment in assets such as SEW is consistent with our strategy and the objective of our infrastructure portfolio. Desjardins is pleased to participate in this investment with an experienced infrastructure partner such as Hastings”.
The parties agreed to keep financial details of the transaction confidential.
Country news
-
-
February 03, 2017
Cayman Islands hires advisors for waste project
The goverment of Cayman Islands has hired the services of legal advisors to structure the bidding process or the Integrated Solid Waste Management System (ISWMS) on PPP scheme.
Read more -
January 30, 2017
Allianz GI launches second UK infra debt fund
Allianz Global Investors,has announced the launch its second UK Infrastructure Debt Fund later this year. The fund, aimed at institutional investors, will invest in long-term, investment grade, core UK infrastructure assets, including primary brownfield and greenfield transactions within the transport, energy and social infrastructure sectors.
Read more -
January 27, 2017
Northleaf closes second infra fund at hard cap
Northleaf Capital Partners has announced that it has held the final closing for its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II (NICP II), at its US$950 million hard cap.
Read more -
January 23, 2017
PIP Platform announces new Chairman
The Pensions Infrastructure Platform (PiP), the investment manager developed by UK pension funds to invest in UK infrastructure, has announced that Tony Poulter has been appointed as its new Chairman.
Read more -
January 18, 2017
Ancala completes UK fundraising at upper end of target
Ancala Partners has successfully completed fundraising for its UK infrastructure platform, which it developed by working closely with Willis Towers Watson, the global investment business.
Read more
