Hermes increases stake in Southern Water Services Limited

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Hermes increases stake in Southern Water Services Limited

Hermes Investment Management has announced that its infrastructure team has acquired an additional 17.1% ownership stake in Southern Water (UK) on behalf of clients. 

This takes Hermes’ overall managed ownership interest to 21%. Following announcement of the sale of Future Fund’s stake earlier in the year, Hermes has worked collaboratively with multiple parties in order to ensure a positive transaction outcome.

Southern Water is responsible for a region encompassing Hampshire, the Isle of Wight, Kent and East and West Sussex, supplying water to over 2.4 million people and wastewater services to 4.6 million people.  The company operates across the entire water and sewerage spectrum and is the seventh largest supply and sewerage company in England by regulated capital value.

Peter Hofbauer, Head of Infrastructure, Hermes Investment Management, said: 

“We are pleased to have acquired this additional ownership interest in Southern Water, obtaining incremental governance rights, including board representation, on behalf of our clients. We look forward to continuing to work with the company, Board, Management, Customers and other key stakeholders going forward.”

Hermes held a final close in May 2015 for the Hermes GPE Infrastructure Fund and its related accounts (HIF).  HIF raised a total of £1.16bn (US$1.8 b9illion), exceeding its £800.0m (US$1.3 billion) target. The Hermes infrastructure team now manages funds of £3.9bn (US$6.1 billion), including a £2bn (US$3.1 billion) direct investment managed account programme for the BT Pension Scheme, one of the UK’s largest occupational pension schemes. 

In March 2015, Hermes announced its intention to  acquire stakes in Eurostar, the high-speed rail service and Associated British Ports, the UK’s leading ports group in consortium with Caisse de dépôt et placement du Québec (CDPQ)  and Canada Pension Plan Investment Board (CPPIB) respectively. Both transactions completed in 2015.

List of country news

Country news

  • May 23, 2016

    UPP appoints new Managing Director of UPP Projects Limited

    University Partnerships Programme (UPP), a provider of on campus student accommodation infrastructure and support services in the UK, has announced the appointment of Andrew Percival as Managing Director of UPP Projects Limited effective from 4 July 2016. Read more
  • May 20, 2016

    Leading Transport and Infrastructure partner joins Dentons in London

    Dentons has announced the appintment of David Moore as a partner in the London Energy, Transport and Infrastructure (ETI) practice. Read more
  • May 19, 2016

    Baker Botts adds new energy, infrastructure & construction Partner in London

    Baker Botts LLP, a major United States-based international full-service law firm, has announced that Stuart Jordan has joined the firm’s London office as a partner in the Global Projects Group. Read more
  • May 18, 2016

    Mott MacDonald appoints Christopher Seymour as regional development director

    Mott MacDonald has appointed Christopher Seymour as development director for the Middle East and South Asia. He will be responsible for coordinating business planning and development activities across the regions. Read more
  • May 17, 2016

    Covanta and Veolia partner to waste to energy facility in Bedfordshire, UK

    Covanta, specialized in sustainable waste and energy solutions, has recently announced a partnership with Veolia UK, which provides a comprehensive range of waste, water and energy management services, to develop the Rookery South Energy Recovery waste to energy facility near Stewartby,Bedfordshire, UK. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.