Triple Point Investment Management is planning to raise up to £400m (€453m) for a new digital infrastructure fund via a share placing and stock listing on the London Stock Exchange.

The manager is proposing an initial public offering (IPO) for the newly created Digital 9 Infrastructure (DGI9), an investment trust which will invest in a range of digital infrastructure assets including fibre and 5G infrastructure.

James Cranmer, managing partner of Triple Point Investment Management, said: “At Triple Point, we focus on long-term, stable cash flows with ESG considerations at our core. Digital 9 Infrastructure is an opportunity to invest in the true backbone of the internet.”

From day one, DGI9 will deliver returns underpinned by 20 years-plus contracted revenue from some of the largest companies in the world, including Facebook, Apple, Amazon, Netflix, Google and Microsoft, Cranmer said.

“We have carefully selected £160m of initial assets and £1bn of portfolio-ready operational infrastructure, and are confident of deploying the full IPO proceeds well within 12 months of IPO.”

Thor Johnsen, head of digital infrastructure at Triple Point Investment Management, said: “The demands on internet infrastructure are rising exponentially, as more of the world goes online, using more devices, with greater processing power.

“The world’s digitally connected economies depend on an ecosystem of subsea connections, data centres, wireless towers and terrestrial fibre. Existing infrastructure cannot cope with the expected demand.”

Johnsen said DGI9’s initial assets comprise over 20,000km of operational, subsea fibre connections in the transatlantic corridor.

“Revenue from these assets is backed by long-term contracts with global tech counterparties and household name telecoms businesses.

“Complementing the initial assets, our near-term acquisition pipeline includes data centres, terrestrial fibre and wireless infrastructure needed to plug the gaps in forecast demand and existing supply, bringing faster and more reliable connections to more people.”

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