Pantheon Infrastructure (PINT) is investing €23.1m in GlobalConnect, a digital infrastructure company majority owned by investment firm EQT.
London-listed global infrastructure fund PINT said it has committed to invest the capital in the Nordic telecommunications infrastructure operator through a co-investment vehicle managed by affiliates of EQT.
Headquartered in Stockholm, GlobalConnect is a fibre-based data communication and data centre services provider to enterprises, public institutions, and consumers in Northern Europe. The company has a network across the Nordics and Germany consisting of 149,000km of fibre cables, 1,040,000 homes passed, 34,500sqm data centre estate and over 30,000 fibre-to-the-home customers.
GlobalConnect was created in 2019 through the combination of four independent fibre platforms in Denmark, Norway and Sweden, owned by EQT Infrastructure.
Richard Sem, partner at Pantheon, PINT’s investment manager, said: “This high-quality asset complements our existing portfolio of attractive digital infrastructure assets, and further underpins the strong downside protection we have built over the past year through robust indexing, contracted cash flows and a hard to replicate network. Tailwinds across the digital sector provide a supportive backdrop for GlobalConnect going forward.”
Last year, Abu Dhabi’s Mubadala Investment Company acquired a minority stake in GlobalConnect. At the time EQT said the EQT Infrastructure III and IV funds will remain the largest owner of GlobalConnect following the sale of the stake to the sovereign investor.
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