Primevest Capital Partners has so far invested over €80m on behalf of its communication infrastructure fund.
The Primevest Communication Infrastructure Fund (PCIF), which announced its first deal last month, has secured its second fibre to the curb supply contract in Germany.
The manager said the latest deal lifts PCIF’s total investment volume to over €80m and the fund will be investing a further €50m in new fibre optic networks in other areas of Germany in the near future.
Klaus Leckelt, project manager at Primevest Capital Partners, said: “In an era where home working and home internet use for e-commerce and leisure activities is increasing exponentially, PCIF provides the necessary capital that allows people access to the high-performance fibre optic networks that are becoming a basic necessity of life.
“This ‘future-proofed’ telecommunications infrastructure ensures that consistent bandwidth and quality of services can be delivered to customers across the board.”
As part of the new contract, PCIF will finance the upgrading of the FttC telecommunications network in Wetterau, to the north of Frankfurt, in partnership with internet provider YPlaY Germany.
Peer Kohlstetter, managing director of HessenKom and YPlay, said: “With PCIF’s investment we are able to take over the existing network and enable the expansion of future-proof broadband connections without needing to invest our own financial resources in the network expansion and construction. This cooperation in Hessen means we are leading the way in the migration of existing FttC infrastructure to the next generation of fibre optic cables.”
Klaus Leckelt, project manager at Primevest Capital Partners, said: “Our buy-and-build strategy supports local operating partners and municipalities in achieving sustainable growth through the responsible deployment of the capital of our institutional investors, such as insurers and pension funds.”
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