Pantheon Infrastructure is investing €52.7m in a fibre-to-the-premises (FTTP) network developer and operator in Ireland.
The London-listed global infrastructure fund said it has committed to invest in National Broadband Ireland (NBI) through Asterion Industrial Partners. Granahan McCourt will retain its current interest in NBI.
NBI was selected by the Irish Department for Environment, Climate and Communications to support the country’s national broadband plan, a programme that seeks to connect every business, public and residential premises in the country to high-speed broadband by 2027.
NBI is responsible for passing and connecting approximately 560,000 premises in rural areas stretching across 96% of the land mass of Ireland, serving around 23% of the population and 69% of the country’s farms, making this the largest infrastructural project in rural Ireland since rural electrification.
Pantheon Infrastructure said the investment is in line with the firm’s strategy of “building a diversified portfolio of infrastructure assets benefitting from structural growth drivers”.
Richard Sem, a partner at Pantheon, Pantheon Infrastructure’s investment manager, said: “We are delighted to announce this latest transaction in a high-quality fibre asset alongside our long-standing partner Asterion.
”NBI’s commitment to providing high-speed broadband to underserved areas in Ireland makes it a compelling investment proposition which has a positive impact on local communities.”
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