K&L Gates LLP has advised WaterEquity, an impact investment manager focused on the water and sanitation sector, in launching its first evergreen investment fund. The new vehicle, called the WaterEquity Everspring Fund, is structured as an open-ended fund and aims to provide long-term capital to financial institutions in emerging markets. These institutions offer loans for water and sanitation projects to low-income communities.
The legal team from K&L Gates was led by Seattle partner Jason Kirk, with Charles Purcell and Lucy Mani also involved. Kirk stated: “We are honored to support WaterEquity in launching a fund that employs sustainable finance to meaningfully improve water and sanitation across emerging markets. Our team was eager and fortunate to advise on various aspects of structuring and establishing the fund, helping WaterEquity navigate complex economic, regulatory, tax, and operational considerations to bring this innovative vehicle to market.”
Stephen Valdes-Robles, Principal and General Counsel at WaterEquity, expressed appreciation for the legal support: “We are very grateful for the outstanding pro bono support provided by the K&L Gates team. Their expertise and guidance were invaluable in launching the WaterEquity Everspring Fund.”
Additional details about the Everspring Fund can be found at waterequity.com/waterequity-everspring-fund/.