EQT’s latest global infrastructure fund and Stonepeak have joined forces to buy a fibre-to-the-home telecom infrastructure company in the Netherlands.
EQT Infrastructure V and Stonepeak have partnered to buy a 50% stake each in Delta Fiber from EQT Infrastructure III.
Delta Fiber owns and operates approximately 50,000km fibre-based network infrastructure that connects approximately 900,000 households and businesses across the Netherlands.
The company was established as Delta Fiber in 2018, following a combination of Delta and CAIW, which were acquired by EQT Infrastructure III in February 2017 and January 2018, respectively.
Matthias Fackler, partner within EQT Infrastructure’s advisory team, said: “EQT Infrastructure shares this vision with Stonepeak whose vast experience in the digital infrastructure space makes them an ideal partner to support Delta Fiber in its next phase of evolution and growth.”
Brian McMullen, senior managing director at Stonepeak, said: “We are delighted to partner with a like-minded peer in EQT Infrastructure on this transaction, which will accelerate Delta Fiber’s ability to connect households throughout the country with reliable broadband.”
Cyrus Gentry, managing director at Stonepeak, said, “Delta Fiber, with its unique asset base and industry-leading management team, represents a compelling investment opportunity that will complement Stonepeak’s existing global portfolio of residential broadband-focused platforms.”
With the acquisition of a stake in Delta Fiber, EQT Infrastructure V is expected to be 60-65% invested.
In March this year, EQT said it expects to reach its hard cap of €15bn for the EQT Infrastructure V fund as it announced a €12.5bn first close. “However, the actual fund size remains dependent on the final outcome of the fundraising process,” the manager said at the time.
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