Garney, Ferguson join sewer and water funding firm as strategic investors
PERENfra has announced the launch of Perennial Infrastructure Fund I™, a private investment fund focused on core water infrastructure assets. The Fund has brought in two strategic investors: Garney Equity Holdings and Ferguson Ventures. The two have teamed up with PERENfra to position the Fund as the first of its kind investment vehicle focused solely on water infrastructure.
With a target size of $125 million, the Fund has successfully closed multiple limited partner (LP) commitments and is seeking to be fully subscribed by early 2025. The Fund is led by Jeff C. Nelson, the Founder and CEO of PERENfra, along with Gary Brauchle, its President.
“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,” said Jeff Nelson, Founder and CEO of PERENfra. “We’re confident in our investment strategy, and we look forward to continuing our positive environmental and social impacts while delivering attractive long-term returns to our investors.”
Garney Equity Holdings is the investment arm of Garney Companies Inc., the largest water and wastewater contractor in the U.S., and is uniquely positioned to provide valuable insight into the current state of U.S. water infrastructure. “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®,” said David Burkhart, CEO at Garney.
Ferguson is the largest value-added distributor serving the residential and non-residential specialized professional. Ferguson Ventures is the corporate venture capital and strategic partnering arm of Ferguson, focusing on innovation within the $340B North American construction market.
“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,” said Blake Luse, Managing Director at Ferguson Ventures. “By engaging with PERENfra and Garney, we aim to deepen our understanding of emerging technologies and industry trends that can enrich our ability to serve our customers.”
The Fund has made significant progress in allocating its capital and anticipates full deployment by 2026. The initial investments are supported by long-term contracts to finance, design, construct, own, and operate six (6) new water and wastewater treatment plants.
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