ICG’s newly created infrastructure team has agreed its first deal with an investment in a telecom network services provider.

ICG is investing an undisclosed amount in Océinde Communications to support the rollout of the company’s services across the French overseas department of Réunion Island.

Benoît Durteste, the CIO and CEO at ICG, said: “This deal is a perfect illustration of our strategy in the infrastructure space: a focus on mid-market opportunities, with a flexible approach to capital structuring and the ability to partner with best-in-class industrial groups.

“Océinde Communications already has a strong position in its market and, with the investment in its network, has the potential for significant growth.”

ICG’s infrastructure team was established in May last year to invest in core and core-plus infrastructure. The deal is the first in a number of deals the team are working on, with a focus on Western Europe, it said.

Nassir Goulamaly, CEO of Océinde Group, said: “With a strong, shared industrial vision, the arrival of this leading financial partner allows us to consider with still a lot of success the development of our infrastructure and to drive with ambition the digital transformation of Reunion Island into the first Smart Island in the world.”