Summit Water Development Group, L.L.C.
United States of America
Last updated 13 May 2020, by Impactyield.
Summit Water Development Group is the only global investment vehicle with the mandate to acquire a diversified international portfolio of “wet water” resources capable of providing freshwater for various consumptive and environmental uses in the most advanced and secure water markets worldwide. The current and intended portfolio of water assets consists primarily of water rights/entitlements in their various forms, as well as other assets pertinent to the storage and conveyance of this water. Established in 2008 to acquire a global portfolio of physical water assets for various consumptive and environmental uses. Operates in regions where acute water stress coupled with free market tendencies and political stability have encouraged the development of active markets for water assets.
The Summit Water Development Group is an investment vehicle (via a feeder fund) providing exposure to a portfolio of real assets that offers the potential for returns from capital appreciation and income with downside protection. SWDG is a holding and operating company whose development activities include adjusting water rights to higher value cases, aggregation of water assets, water banking, water storage, development of large quantity delivery infrastructure, short-term irrigation supply, and "spot market" sales.
Summit Water Development Group aims to create the leading global investment vehicle in order to acquire primarily water rights/entitlements in their various forms, as well as other assets pertinent to the storage and conveyance of this water. While simultaneously growing the portfolio through the pursuit of distressed assets and active value-building and yield-enhancing initiatives.
It is Summit Water Development Group's goal to create a premium by enabling the delivery of water in a higher-value package or at a higher-value place and time. In addition to bringing strong capitalization, long-term strategic vision, and systematic investing discipline to insular, hyper-local markets dominated by local users rather than professional investors.
of track record
the year funded
Key performance indicators
Asset manager: Summit Global Management
Product track record: Fund has 15 years of track record
Target IRR: 25%
Committed Capital: 204,000,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - committed capital
Inception year: 2008
Vintage year: 2008
Target region: Global
Target close date: n.a.
Product term: n.a.
Assets under management: 204,000,000 USD (US Dollar)
Investment size: Min: 0; Max: 0; Avg: 0
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 171
Fund investments to date exited or repaid: 0
Management fee: 1.5%
Carried interest: 20%
Hurdle rate: 6%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors
Phone number: 858-546-1777
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Business Development Manager
Robert G. Anfuso
Portfolio Manager and Principal
The 2030 Water Resources Group, a public-private think-tank on water issues, estimates an annual capital requirement of $50 to $60 billion to close the water availability gap. However, “investors, both private and public, lack a consistent basis on which to make economically rational investment decisions and therefore the will to invest in the sector.”
In politically stable areas where lack of water has truly threatened economic growth, public well-being, or the health of the ecosystems, water markets have started to emerge as means of more efficiently allocating scarce water resources. And there are positive and profound impacts for agriculture, cities, and the environment.
Water markets enable farmers to better manage and respond to external drivers (i.e. seasonal water availability, changes in commodity prices and input costs) by allowing more flexible production decisions. The 2030 Water Resources Group reports that water trading improved agricultural productivity in Australia by 36% from 2000 to 2005, a period of intense drought. Water markets enable municipal water managers to create more realistic and longer-term water supply plans.
Water markets enable a more integrated and sustainable management of water for ecosystem health. According to a 2010 report by Australia’s National Water Commission, water trading has generally moved water further downstream, leading to environmentally beneficial increases in flows at the end of major tributaries.