PERENfra announces Perennial Infrastructure Fund I

Whats Happening:

PERENfra has launched Perennial Infrastructure Fund I, targeting $125 million for investments in core water infrastructure assets. The fund has secured multiple limited partner commitments and aims to be fully subscribed by early 2025. It has brought in strategic investors Garney Equity Holdings and Ferguson Ventures, positioning itself as the first investment vehicle focused solely on water infrastructure.

Key Moves:

• PERENfra launches Perennial Infrastructure Fund I with a $125 million target

• Fund secures strategic investments from Garney Equity Holdings and Ferguson Ventures

• Initial investments support six new water and wastewater treatment plants

By The Numbers:

• Fund target size: $125 million

• Ferguson operates in $340B North American construction market

• Ferguson has sales of $29.6 billion (FY'24)

Key Quotes:

• "We're humbled and excited by the support of our investors and partners in the Fund. There is an unfulfilled need for capital in the water infrastructure market, and we're ready to address that demand." - Jeff Nelson, Founder and CEO of PERENfra

• "Garney is proud to support the Fund's goals, which align closely with our purpose: Building Sustainable Futures with the World's Most Precious Resources – Water and People®" - David Burkhart, CEO at Garney

• "Ferguson Ventures sees this investment in the Perennial Infrastructure Fund I as a strategic step toward enhancing innovation and sustainability within the water infrastructure sector" - Blake Luse, Managing Director at Ferguson Ventures

Bottom Line:

PERENfra's launch of Perennial Infrastructure Fund I marks a significant step in addressing the capital needs of the water infrastructure market. With strategic backing from industry leaders and a focus on sustainable, efficient water solutions, the fund is well-positioned to make a substantial impact in this critical sector while aiming to deliver attractive returns to investors.

Read Full Article