Aviva Investors' infrastructure equity platform funds internet provider
Aviva Investors’ infrastructure equity platform is supporting County Broadband with a £46m (€39m) investment to help the internet service provider expand its network across the East of England.
Aviva Investors said fibre/broadband is an area of focus for the infrastructure equity team at Aviva Investors, offering institutional clients long-term, utility-like, income streams with relatively low economic risk.
This investment in County Broadband increases Aviva Investors’ committed funding to the sector, particularly in the roll-out of services to under-served rural areas, it said.
The asset manager said the partnership will allow County Broadband to accelerate its expansion strategy to service more than 30,000 homes and businesses in the region.
Sean McLachlan, a senior director at Aviva Investors Infrastructure Equity, said: “The funding from Aviva Investors will allow County Broadband and its management team to build on its existing infrastructure and brand to accelerate its network expansion and to provide world-class infrastructure to under-served communities in the East of England.”
Lloyd Felton, the CEO of County Broadband, said: “This is a significant moment for County Broadband as we enter the next phase of our development toward becoming a major network provider in the East of England.”
Aviva Investors Infrastructure Equity platform forms part of the £37bn of real assets platform managed by Aviva Investors.
The team focusses on providing clients with long-term predictable cashflows through investment in low-risk assets, ideal for institutional investors looking to meet their long-term liabilities.