APG and Whitehelm to fund 'smart city' fibre-optic network in California
The Smart City Infrastructure Fund, established last year by Dutch pension asset manager APG and fund manager Whitehelm Capital, is making its first investment by funding the rollout of a fibre optic network in California.
The fund, set up to provide long-term funding for ‘smart city’ infrastructure projects, is investing more than $75m (€66.6m) to help SiFi Networks establish its largest privately-funded FiberCityTM network in Fullerton.
The new network is expected to increase internet speeds in the city, supporting growing demand from households and business.
APG and Whitehelm said it was also designed to facilitate smart-city solutions for services in Fullerton such as traffic control, street lighting and emergency services.
It will also provide a platform for the future expansion of 5G mobile and Internet of Things networks in the city.
The investment by APG and Whitehelm is part of a broader partnership with SiFi, which is planning similar rollouts for other US cities that have expressed interest in similar digital infrastructure.
Graham Matthews, CEO of Whitehelm Capital, said: “The Smart City Infrastructure Fund was established to be a catalysing force for the development of smart-city infrastructure.”