Affinity Water Ltd
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Affinity Water is a water supply company owned by a consortium of HICL Infrastructure, Allianz, and DIF Management BV.
Company
Ownership 2020
- 36.6%:
InfraRed Capital Partners § HICL Infrastructure Company Ltd, 
- 36.6%:
Allianz Capital Partners, via Allianz Infrastructure Luxembourg I Sarl 
- 26.9%:
DIF Management BV, 
May.2017: Affinity Water Acquisitions (Investments) Ltd was acquired by a consortium comprising DIF Management BV, Allianz Capital Partners and HICL Infrastructure Company Ltd. The consortium makes its investment through Daiwater Investment Ltd, Affinity Water's holdco.
- DIF Management BV invests in and manages infrastructure and renewable energy projects, essential public services, PPP, PFI, P3, OC, website, reg. Netherlands
- HICL Infrastructure Company Ltd, 33.2%, advised by InfraRed Capital Partners Ltd, link, UK portfolio.
- Group of co-investors comprising UK local authority pension funds, 3.4%, advised by InfraRed Capital Partners Ltd
- Daiwater Investment Ltd
- Affinity Water Acquisitions (Investments) Ltd
- Affinity Water Ltd
- Daiwater Investment Ltd
- DIF Management Holding BV, OC, reg. Netherlands
- DIF Infrastructure IV Cooperatief UA, Fund, OC, reg. Netherlands. See a/cs for parent co. Dec.2017, p.19
- DIF Infra 4 Luxembourg Sarl, [OC], reg. Luxembourg
- DIF Infra 4 UK Partner Ltd, was DIF ESP UK Partner Ltd, provides management services to group entities, CH. Operates as a partner of DIF Infra 4 UK Partnership.
- DIF Infra 4 Luxembourg Sarl, [OC], reg. Luxembourg
- DIF Infra 4 UK Partnership, was DIF ESP UK Partner Ltd, [??]
Ownership 2016
Sources: 2016/2017 a/cs, p.69, Business Plan 2020-2025, p.188
- North Haven Infrastructure Partners LP, 40%, private equity fund operated by Morgan Stanley Infrastructure Inc, ref
- Infracapital Partners II = Infracapital Partners II LP + Infracapital Partners (NT) II LP, 35%
- Partners Group Global Infrastructure 2012 Inc + Partners Group Direct Infrastructure 2011 LP (both managed by Infracapital Partners II), 5%
- Beryl Datura Investment Ltd, 10%
- Veolia Water UK Ltd, 10%
- Affinity Water Acquisitions (Investments) Ltd
Ownership 2015
See also Business Plan 2015-2020, p.212
- Infracapital Partners II, 40%
- Morgan Stanley Infrastructure Partners, 40%
- Beryl Datura Investment Ltd, 10%
- Veolia Water UK Ltd, 10%
- Prudential plc
- M&G Investment Management Ltd,
- Infracapital Partners II, fund est. 2010 to invest in income-generative infrastructure assets
- Infracapital F2 Rift Holdings Sarl, [OC], reg. Luxembourg
- Infracapital F2 Rift Sarl, [OC], reg. Luxembourg
- M&G Investment Management Ltd,
- Morgan Stanley
- Morgan Stanley Infrastructure Inc, investment management division
- Morgan Stanley Infrastructure Partners, global infrastructure investment fund est. 2007 to invest in core, essential infrastructure assets that provide public goods and services
- MSIP Dalis BV, reg. Netherlands
- Morgan Stanley Infrastructure Partners, global infrastructure investment fund est. 2007 to invest in core, essential infrastructure assets that provide public goods and services
- Morgan Stanley Infrastructure Inc, investment management division
- State Administration of Foreign Exchange of the People’s Republic of China
- Beryl Datura Investment Ltd, [OC]
- Infracapital F2 Rift Holdings Sarl,
- Beryl Datura Investment Ltd, [OC]
Gingko Tree Investments Ltd, invests in infrastructure and real estate. Manages the investment.
- Veolia Environnement SA
- Veolia Water UK Ltd, [CH]
- Affinity Water Acquisitions (HoldCo) Ltd, [CH]
- Veolia Water UK Ltd, [CH]
- Affinity Water Capital Funds Ltd, [CH]
- Affinity Water Holdings Ltd, holdco, [CH]
- Affinity Water Ltd, [CH]
- Affinity Water Holdings Ltd, holdco, [CH]
ToDo:
- Affinity Water Programme Finance Ltd, [OC], issued asset backed securities, reg. Cayman Islands
- Affinity Water Finance (2004) Ltd,
- Affinity Water Acquisitions (HoldCo) Ltd,
- Affinity Water Acquisitions (MidCo) Ltd,
- Affinity Water Acquisitions Ltd,
- Afinity Water Finance (2004) plc
- Affinity Water East Ltd
- Affinity Water Southeast Ltd
- Affinity Water Shared Services Ltd
- Affinity for Business Ltd
- Affinity Water Pension Trustees Ltd
Timeline
- May.2017: A consortium of Allianz, HICL and DIF purchased Morgan Stanley and M&G's 90% holding, followed by Veolia's 10% holding.
- Oct.2012: Affinity Water Ltd: The 3 separate Veolia Water-branded businesses, Veolia Water Central, Veolia Water Southeast and Veolia Water East, were brought together as one company.
- Jun.2012: Affinity Water Acquisitions Ltd, an acquisition entity formed by Infracapital Partners II, and Morgan Stanley Infrastructure Partners. Veolia Environnement SA retained a 10% minority shareholding through its subsidiary Veolia Water UK Ltd. ref, p.209, ref, ref
- Jun.2012: Veolia Environnement completed the sale of its UK regulated water businesses.ref See Affinity Water Ltd.
- Dec.2011: Veolia Water UK announced plan to unify its regulated businesses (Veolia Water Central, Veolia Water East and Veolia Water Southeast) under a single licence, and the sale of its regulated businesses. ref
- Oct.2007: Following OfWat's PR09 Price Review, OfWat indicated a desire for the 3 businesses to operate under single licence to reduce its regulatory burden.ref, ref
- 2000: Central and North Surrey Water unified under a single Licence. East and Southeast retained separately to maintain small company premium.
- 1991: Veolia obtained full ownership of Central (Three Valleys), and control of East (Tendring Hundred), Southeast (Folkestone & Dover) and North Surrey Water.ref
