By Gerelyn Terzo, Global AgInvesting Media
Toronto, Canada-based XPV Water Partners, a growth investment firm specializing in the water industry, has reached a major milestone. The firm has surpassed $1 billion in assets under management (AUM), including its most recent capital injection of over $625 million, the proceeds of which it plans to direct into existing and new water-related companies. In a show of strength in Canada’s largely centralized water industry around public authorities, making it challenging for the private sector to participate, XPV has already completed several new investments into sustainable water infrastructure, healthy oceans and climate resilience.
According to a report in Axios, XPV Water Partners raised the capital across two separate water funds – XPV Water Fund III and the Extended Value Fund. The funds will direct anywhere between $5 million and $30 million into each deal, serving primarily as the lead investor. XPV Water closed both funds in early 2025 after a three-year fundraising window. Limited Partners include insurance companies and fund of funds as well as family offices.
XPV seeks out partnerships with owners and management teams of companies it identifies as key players in tackling water risk. The firm aims to scale these businesses to generate both substantial value and strong returns for all stakeholders involved.
XPV Water Partners Managing Director David Henderson stated, “Water is our planet’s wealth. It’s fundamental to everything we value. Managing water risk – making smart decisions about how we live with, use, and protect our shared resource – is both a necessity and an immense opportunity.”
According to the website, XPV has backed nearly two-dozen companies. Among them, after acquiring Atlas Manufacturing and Screening Systems International in 2018, XPV Water Partners helped build it into a leading full-service provider of industrial water intake systems across North America. Atlas-SSI produces bespoke screens, gates and barriers for facilities that use water, with a focus on reducing pollution and securing water biodiversity across North America.
Since that acquisition, Atlas-SSI and XPV collaborated to enhance the company’s range of solutions and expand its market presence through internal growth strategies and several key acquisitions. Earlier this year, XPV Water Partners offloaded Atlas-SSI to the alternative investment arm of Wall Street firm. The companies kept the financial details of that transaction close to the vest.
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