USS to increase shareholding in Thames Water Utilities Limited 

Universities Superannuation Scheme Limited (USS), the sole corporate trustee of one of the UK's largest pension funds, has agreed to acquire an additional 8.77% in Kemble Water Holdings Limited, the ultimate holding company of Thames Water Utilities Limited (Thames Water), from investors Wren House Infrastructure LP. This will take USS’s holding to nearly 20% in the company. 

USS first became an investor in Thames Water in 2017, attracted by the opportunity to support the long-term investment needs of the business. They are an experienced investor in regulated infrastructure assets, with existing investments in both Heathrow Airport Holdings Limited and NATS in the UK as well as other regulated assets around the world.

Thames Water launched its turnaround plan earlier this year and have a new Executive leadership team in place, with a focus on improving customer service, reducing complaints, investing in its infrastructure, reducing leaks and working towards net zero. 

Ian Marchant, Chairman, Thames Water said: “This increase in investment is testament to the company’s commitment to develop a long-term strategy to ensure a resilient water and waste service for generations to come. With a new experienced leadership team ready to turnaround the business, we are determined to become a water company our stakeholders, customers and employees can be truly proud of.  Being innovative is important to our success and it’s something we’ve been particularly focused on alongside investing in the company’s infrastructure, customers, and our responsibility to the natural environment.  We look forward to working with USS, alongside our other shareholders, to support the executive team to ensure Thames Water becomes a high performing company.”