Affinity Water is a water supply company owned by a consortium of Allianz, HICL and DIF Tamblin

Affinity Water was established through the purchase of Veolia Water's UK water supply operations to Rift Acquisitions, an entity established by Morgan Stanley and M&G Investments, for £1.2 billion on 28 June 2012. The three separate Veolia Water-branded businesses: Veolia Water Central, Veolia Water Southeast and Veolia Water East were brought together as one company, under the Affinity Water brand on 1 October 2012.

Veolia Environnement retained a 10% stake in Affinity Water for five years from incorporation, using the proceeds of the disposal to reduce its debt, as part of a €5bn debt-reduction programme announced in December 2011.[3][4]

In May 2017, a consortium of Allianz, HICL and DIF purchased Morgan Stanley and M&G's 90% holding, followed by Veolia's 10% holding.