LONDON, UK: Pantheon Infrastructure, the listed global infrastructure fund, has invested €26.5m (£22.4m at current exchange rates) in a digital infrastructure company that owns and operates regional fibre-to-the-home (FTTH) broadband infrastructure in Western Europe.
The investee company provides broadband internet access to nearly one million homes as well as additional telecom services (TV; fixed and mobile telephony) through its fibre-based network infrastructure of circa 50,000 km. It is an established player in its home market and is well positioned to capitalise on an accelerated fibre roll out programme, with an ambition to reach a footprint of two million fibre connections by 2025.
This broadband is more sustainable and energy efficient than legacy networks, with approximately 40-60% lower energy consumption.
The investment is in line with PINT’s stated strategy of building a diversified portfolio of infrastructure assets, with a focus on sectors benefitting from structural growth drivers. Digital infrastructure has transitioned from being niche to a core sub-sector in recent years and is benefitting from strong growth in mobile data consumption, migration to the cloud and the deployment of high-speed networks.
PINT co-invested with Stonepeak, a leading alternative investment firm, alongside EQT.
Richard Sem, Partner at Pantheon, PINT’s investment manager, commented: “We are pleased to announce the completion of PINT’s latest investment. We believe this is a highly accretive growth opportunity in a segment of the digital infrastructure space that represents an exciting growth opportunity. We are particularly pleased to have partnered with such a reputable sponsor in Stonepeak and with the highly experienced company management team.”