PERENfra Launches $125M Water Infrastructure Fund
PERENfra has launched the Perennial Infrastructure Fund I, a private investment fund with a target of $125 million, dedicated to investing in core water infrastructure assets. This fund has already secured strategic investments from Garney Equity Holdings, the investment arm of Garney Companies Inc., and Ferguson Ventures, the corporate venture capital and strategic partnering arm of Ferguson, positioning itself as the first investment vehicle focused solely on water infrastructure.
Jeff C. Nelson, founder and CEO of PERENfra, leads the Fund alongside President Gary Brauchle. Nelson emphasized the significant gap in capital within the water infrastructure market, stating, “There is an unfulfilled need for capital in the water infrastructure market, and we’re ready to address that demand.” He highlighted the dual goals of achieving strong long-term returns for investors while also making a positive environmental and social impact.
The Fund has already begun allocating capital, with intentions to fully deploy by 2026. Its initial investments are focused on financing, designing, constructing, owning, and running six new water and wastewater treatment plants. The Fund has secured numerous US-based family offices as initial partners and expects to be fully subscribed by early 2025.
Davis Graham and Stubbs LLP served as legal counsel to the Fund.