Water firm gets share of £551m investment

Ancala Partners, the investor in critical infrastructure, has announced the close of a £551m fund to support the expansion plans of its existing portfolio businesses Portsmouth Water, Biogen and Leep Utilities.

The companies are dealing with some of the UK’s most pressing challenges, including accelerating the energy transition and ensuring the UK has a clean, secure and resilient water supply.

The new fund (Ancala Essential Growth Infrastructure Fund) was oversubscribed and will support Portsmouth Water, Biogen and Leep Utilities only. It contains commitments from a range of institutional investors from Europe, North America and Asia.

Ancala’s Growth Fund will provide Portsmouth Water with £120m to help finance the construction of the UK’s first major new reservoir since the 1980s. It will also support the company to further enhance the efficiency and resilience of water supplies in the region.

Spence Clunie, managing partner, Ancala Partners, said: “Water supply and diversity of effective renewable energy sources are two of the most critical issues facing the UK. Our Growth Fund represents our continued commitment to supporting the expansion plans of our portfolio businesses and the solutions they provide, including contributing towards the energy transition.

“We’re thrilled that our diverse base of institutional investors share the same enthusiasm and conviction to help these businesses to create long-term value and make a marked improvement to the communities and environments which they serve. We are grateful for their support.”