The Tigris Water Fund, an Asia-focused growth capital fund co-managed by global infrastructure firms Odyssey Capital and Macquarie Capital, has reached a first close with US$110 million in capital commitments. Investors included development finance institution FMO, Japanese-based engineering consulting company Nippon Koei and Eastspring Investments, the Asian asset management business of Prudential. The Tigris Water Fund, which has a target size of US$300 million, will take minority stakes in small- to medium-sized water companies in emerging Asia.