Southern confirms new equity will be forthcoming from Macquarie

(by Verity Mitchell)

Southern Water has confirmed that it has secured additional equity from funds managed by Macquarie Asset Management.

The investors, as pledged, have now committed a further £245m of equity, taking the equity committed since July 2025 to £900m, and the total invested since Southern Water was purchased in 2021 to £2.55bn. Over that period, no dividend has been paid - and none will be paid before 2030. This investment programme includes, amongst other things, the complete rebuilding of Southern's five largest water treatment plants; new nutrient treatment at 40% of all treatment plants to improve river quality; new water supply and resilience measures including the Havant Thicket reservoir being constructed with Portsmouth Water and five new water recycling plants; and overflow reductions at 170 sites.

This £900m equity commitment is unconditional and is expected to be fully drawn by 30 June 2026. Funds managed by Macquarie Asset Management have also reconfirmed their intention to provide up to a further £300m of binding equity commitments by June 2026.