Resonance Asset Management, a Fidante-aligned boutique management firm, has raised US$300 million for a new alternatives fund.
The new fund, Resonance Industrial Water Infrastructure Limited, is unlisted and will invest in industrial water treatment plants.
According to Fidante’s managing director for Europe, Phil Peters, it received “a lot of interest from institutional investors”.
“Pension funds, endowments and funds with an ESG policy are looking for strong investment ideas, and this appeals because of the water industry’s investment characteristics and growth potential,” Mr Peters said.
Resonance anticipates the industrial water treatment industry will grow at 8.6 per cent per annum, and the fund will invest in infrastructure across Australia, New Zealand, China, Europe and south-east Asia.
Businesses in some of these regions are becoming “increasingly concerned” they may not have access to enough water for industrial purposes, according to Resonance chief executive Nick Wood.
Changes to water regulations was cited by Mr Wood as a key driver for interest in water treatment plants, which will reduce the level of pollution from industrial waste water.
“Demand for outsourced water treatment services is being driven by increasing government regulation of discharged water and by water scarcity,” he said.
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