Aqua America Announces Appointment of Seasoned Business Leader Francis Idehen to Board of Directors

Aqua America Inc. WTR announced today the appointment of Francis Idehen to its board of directors.

Idehen is the chief operating officer for GCM Grosvenor, one of the world's largest independent alternative asset management firms with over $55 billion in assets under management, specializing in comprehensive investment solutions for private equity, infrastructure, real estate, hedge fund strategies and strategic, multi-asset class investments. In his current role, held since 2017, Idehen is responsible for overseeing the company's core operations functions, including fund finance, corporate finance, technology, compliance and legal. He is also a member of the firm's operations committee and labor impact fund investment committee.

Before joining GCM Grosvenor, Idehen held senior roles at Exelon Corporation from 2011-2017, serving as treasurer, head of investor relations and managing director of Exelon's investment office. During his tenure at Exelon, he was responsible for leading the treasury department, developing key strategic relationships with external sources of financing, implementing the investor relations program and leading the private markets investments team.

"Francis is a seasoned leader with a trained and balanced financial mindset and diverse experience with large and complex businesses.," said Aqua America Chairman and CEO Christopher Franklin. "His background in the utility space, combined with his current responsibilities in making prudent financial investments, will make him an important addition to Aqua's strong board of directors. Our directors remain focused on the company's core mission – delivering safe and reliable service to customers along with strong financial performance for our shareholders." Mr. Idehen will serve on Aqua's Audit Committee and its Risk Mitigation and Investment Policy Committee.

Previously, Idehen was a senior portfolio manager at Intel Corporation where he was responsible for developing investment policy and strategy, conducting due diligence and managing investment performance of public and private fixed income and credit portfolios. Prior to working at Intel, Idehen held various finance positions at Lehman Brothers, J.P. Morgan Chase & Company, Streamline Capital, LLC and Goldman, Sachs & Company.

Idehen holds a bachelor's degree in economics from Yale University, and an MBA from Harvard Business School. He is based in Chicago.

Aqua America is the second-largest publicly traded water utility based in the U.S., and serves more than 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Visit AquaAmerica.com for more information or follow Aqua on Facebook at facebook.com/MyAquaAmerica and on Twitter at @MyAquaAmerica.

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