IMM Makes Equity Investment in United Water

Korean firm IMM Investment Co. (“IMM”) has invested USD 40 million (RMB 284 million) in United Water Corporation (“United Water”) via its ‘Green Infrastructure Fund’. IMM is a leading asset management firm in Korea, managing 33 funds with capital commitment of USD 4 billion.

Through this investment, IMM becomes the latest shareholder of United Water and a strategic partner in the development of the company. IMM’s investment in United Water is the first by a Korean player into China’s growing infrastructure development sector.

Established in 1999, IMM Investment Corp (“IMM”) is a leading Korean alternative asset management firm focusing on venture capital, mezzanine, infrastructure and aircraft investments. Currently IMM is managing 33 funds with capital commitment of approximately USD 4 billion in total and USD 1.2 billion in infrastructure. IMM have over 50 professionals with extensive experiences in investment and management in Seoul, Japan and HK offices.

As one of the largest private water companies in China, United Water has been a player in the private water sector of China since 2003, developing steadily since its founding. With the rapid growth of the economy, the Chinese Government has been developing the water treatment industry through various policies and incentives to resolve regional water requirements and to meet the increasing expectations on water quality and demand driven by urbanization and economic development.

United Water has found opportunities in this market for growth, while maintaining the professional and reliable operation of its water plants.  Through this partnership with IMM, United Water will also continue to strive to expand its operations both domestically and overseas.

About United Water Corporation

United Water is a leading China focused private water infrastructure group with 23 operations spread across 13 cities in 9 provinces in China. With over 1,100 employees United Water’s portfolio of projects cover the whole water cycle from water supply projects starting with the taking of raw water to the distribution and metering of customers to municipal and industrial waste water treatment projects that treat and ultimately release water back to the environment.  Looking to utilize its over 16 years of experience in China’s water industry to expand in the Asia Pacific region United Water signed its first international project in Bangladesh in 2019 for the development and operation of a water distribution network on a PPP basis.