Brookfield Asset Management has acquired a minority stake in Strategic Venue Partners (SVP), a wireless connectivity-as-a-service company owned by Tiger Infrastructure Partners.
Brookfield is investing an unspecified amount to gain the minority equity interest in the company that partners with venues and carriers to develop and operate bespoke in-building wireless (IBW) systems.
Hamish Kidd, MD at Brookfield, said: “We have significant experience investing in digital infrastructure, including wireless solutions, and were quickly able to appreciate the value of the franchise that Tiger Infrastructure and SVP have built in the IBW sector.
“We were attracted to SVP’s efficient and differentiated offering, the annual recurring revenue business model and the exceptional customer credit quality. We look forward to supporting SVP’s growth going forward.”
Tiger Infrastructure said it has also upsized SVP’s revolving credit facility with existing and new lenders.
Justin Marron, CEO of SVP, said: “This investment by a leading investor in infrastructure, alongside our sponsor, Tiger Infrastructure, combined with our larger credit facility further validates the rising market demand for SVP’s unique wireless connectivity as a service model.”
Tiger Infrastructure CEO and CIO Emil W Henry said: “Relationships like this one generate value across Tiger Infrastructure’s entire portfolio in many different ways, and we are especially pleased to expand the relationship into a digital infrastructure arena, where Brookfield can bring meaningful synergies to SVP across its wide-ranging portfolio.”
Marc H Blair, COO and senior MD of Tiger Infrastructure, said: “Today’s announced transactions provide additional growth capital that positions SVP to further expand its infrastructure portfolio by pursuing additional origination efforts and entering new markets.”
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