Investment Vehicles

Water Asset Management, LLC (WAM) invests in the water industry in the following ways: long only global water public equity fund, long short global water public equity fund, private equity water resources fund and direct private equity in water infrastructure. The Firm launched its first fund in January 2006.

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TRF MASTER FUND (CAYMAN), L.P.

A global long/short equity fund investing in public and private water related companies and assets.  The fund was launched January 2006.  The Fund's objective is to generate consistent returns with minimal correlation to major market or commodity indices. 

 

WAM Global Water Equity, LP

Water Asset Management's Global Water Equity strategy provides global exposure to the significant macro scarcity trends in water. Similar to TRF Master Fund (Caymen) LP, the long only strategy investment approach is driven by top down water thematic trends coupled with fundamental value oriented individual stock selection, and invests across the five water industry sectors.

 

Water Property Investor, LP

Water Property Investor, LP (“WPI”) invests primarily in a diversified portfolio of water resources, in the water-stressed Western U.S., purchased at agriculture value. WPI  partners with communities to provide  capital, innovation and  experience to develop transparent and long term solutions to critical water issues.   The portfolio is comprised of water-rich agricultural properties generating a current agricultural yield. With regards to the water-rich properties, WAM collaborates with several farmers including RD Offutt Co, Bowles Family Farming, Limoneira, and 4B Farms.  WPI develops and markets the water assets while our farming operators manage the farming operations of the properties, mitigating agriculture risk.

 

Water Property Investor II, LP

Water Property Investor II, LP (“WPI II”), a successor fund to WPI, has completed its first close and has invested in a diversified portfolio of water resources, in the water-stressed Western United States, purchased at their agriculture value.  WPI works with communities to provide capital, innovation and expertise to develop transparent long term water resiliency solutions to the region’s critical water supplies.

 

PRIVATE EQUITY INVESTMENTS:


Water Property Investors, LLC

WAM purchased 2,724 acre-feet equivalent of water effluent credits created from wastewater treated by the town of Prescott Valley, Arizona. These assets are being marketed to residential and commercial real estate developers as well as local area land owners where a building permit requires a 100 year assured water supply.
 

U.S. Water and Land, LLC

WAM purchased Winnemucca Farms (“WAL”) the largest irrigated farm in Nevada with 36,261 acre-feet of appurtenant certified annual water rights in a joint venture with R.D. Offutt Company, one of the largest U.S. farming and food processing companies. The property includes 14,486 acres of irrigated land and 5,514 acres of non-irrigated land, 118 center pivot irrigation systems and 57 deep-water irrigation wells with a documented 40 year history of uninterrupted water usage. The farm has been leased to RDO and provides a current yield. U.S. Water and Land development activity includes the sale/lease of water for: industrial, power generation municipal and regional water users, and for in stream flows.

SouthWest Water Company

WAM led the acquisition of SouthWest Water Company (NASDAQ:SWWC) for approximately $275 million in cash, and the assumption of ~ $150 million of debt. SWWC served more than a million people in 9 states with regulated public water utilities, utility districts and private companies under contract. WAM was SWWC’s third largest shareholder, and brought in J.P. Morgan Asset Management as its financial partner. WAM installed a CEO, served on the board and subsequently divested its interest.  

 

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