UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has invested an undisclosed amount to buy a rural fibre optic infrastructure platform operating in Northern Germany.
UBS-AM said it has acquired Lünecom to help accelerate its plans to reach more homes across the region. Together with UBS-AM, Lünecom plans to invest a further €160m to bring fibre to more than 100,000 homes.
Tommaso Albanese, global head and CIO of infrastructure investment at UBS-AM REPM, said: “This transaction provides strong growth and attractive yield prospects for our clients, thanks both to the market fundamentals and Lünecom’s strong regional presence, established management team, and close relationship with local stakeholders.
“The funding from UBS-AM will provide the necessary stimulus to access a market of up to 150,000 homes in the region, further developing market penetration and growth within Northern Germany.”
Norbert Hill, founder and CEO of Lünecom, said: “Combining UBS-AM and Lünecom’s respective strengths will facilitate the delivery of high-quality high-speed fibre optics, and respond to the needs of local citizens and companies for faster internet, modern IT technology, and more sustainable solutions for the future.
“This transaction is also a further testament to Northern Germany’s attractiveness as an investment market and as a location for doing business. Lünecom is proud and delighted to be partnering with a global player such as UBS-AM to generate sustainable growth with fibre optic infrastructure.”
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