PERENfra has completed fundraising for its inaugural Perennial Infrastructure Fund I with $142.8 million in committed capital, closing the vehicle at an oversubscribed level as the firm looks to scale investments across essential water infrastructure projects in high-growth U.S. markets.
The Denver-based investor, owner, and operator said the fund attracted backing from strategic partners including Garney Equity Holdings and Ferguson Ventures, along with participation from several large single-family and multi-family offices. The capital is earmarked for greenfield and brownfield water infrastructure opportunities, a segment benefiting from rising demand, population migration into faster-growing regions, and increasing urgency to modernize systems affected by underinvestment and aging networks.
PERENfra’s strategy centers on value engineered capital projects and operational improvements designed to accelerate delivery timelines and provide greater certainty for partners and end customers. The firm said it has already committed more than 35% of the fund to a range of cash-flowing assets and is advancing what it described as a sole-sourced actionable pipeline.
According to the company, all fund investments are expected to be supported by long-term contracted revenue arrangements, while also offering potential for expansion over the next several years. PERENfra positioned the vehicle as a way to pair durable infrastructure-style cash flows with opportunities to enhance performance through hands-on engineering, construction management, and operating expertise.
PERENfra said it invests in, acquires, develops, and operates essential water infrastructure assets that aim to improve reliability, efficiency, and quality. The company added that its team brings more than 120 years of combined experience in the water sector, with a focus on water quality, conservation, and accessibility across the U.S.
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“PERENfra’s experience and hands-on approach to engineering, constructing and operating our infrastructure assets will generate meaningful returns for the Fund. We sincerely appreciate the trust and relationships that we have built with our limited partners and are committed to executing our strategy for their benefit.”
Jeff Nelson, Managing Member of the Fund’s General Partner and Founder & CEO of PERENfra
