SUEZ Water Resources is an American subsidiary of SUEZ, specialized in regulated water activities in the USA. It provides 2.1 million people with water in New Jersey, New York, Idaho, Pennsylvania, Delaware en Rhode Island. These operations make SUEZ Water Resources one of the biggest private water companies on the territory.
With this acquisition which is subject to approval from local regulators by the first semester of 2019, the PGGM Infrastructure Fund substantially expands its investments in water infrastructure.
Erik van de Brake, head of Infrastructure at PGGM: ,,This is a rare investment opportunity and it fits nicely into our portfolio. The water utilities are operating under transparent and stable regulatory regimes. We support the ambitious investment strategy of SUEZ. This investment will provide our clients like Pensioenfonds Zorg en Welzijn with attractive and stable long-term returns.’’
For PGGM the investment in SUEZ Water Resources qualifies as an ‘investment in solutions’. PGGM aims to invest EUR 20 bn. in 2020 with tangible and positive impact on four themes: clean water, food security, climate and health care. End of June 2018, PGGM had realized a portfolio of EUR 13 bn. impact investments.
PGGM is a cooperative Dutch pension fund service provider. Institutional clients are offered: asset management, pension fund management, policy advice and management support. On June 30, 2018 PGGM had EUR 215 billion in assets under management and was administrating pensions of 4.2 million participants. Around 750,000 workers in the Dutch healthcare are connected to PGGM&CO, our members organization. Either alone or together with strategic partners, PGGM develops future solutions by linking together pension, care, housing and work.