South African fund looks for water strategy

摘要

South African private equity firm Metier plans to invest in the water and waste-water sector through the second round of its Sustainable Capital Fund, for which it has raised $113 million and called a first close. The firm is particularly interested in reuse, which fits the fund's mandate of sustainability and energy efficiency (from biogas generation). The fund has secured investments from a number of development finance institutions such as DEG, FMO, Proparco, the European Investment Bank, CDC and Nor-fund. The African Development Bank has already committed $20 million towards the second close, which has an aggregate target of around $150 million. Metier will rely on one of its portfolio companies to identify potential investments: as part of its first Sustainable Capital Fund, the firm took a 5% stake in South African water and wastewater treatment specialist Tecroveer.