PRESS RELEASE
Cube Infrastructure Managers announces €90 million recent investments in Spain, Italy, and Czech Republic with the Connecting Europe Broadband Fund
During the summer, Cube Infrastructure Managers’ Connecting Europe Broadband Fund (CEBF) has invested in three projects across Europe, reaching six investments out of its 15-20 targeted projects.
These three projects, representing €90 million investment, will provide fiber access to 700,000+ households and nearby businesses.
CEBF is actively pursuing its investment program in a dynamic environment, pushing for an acceleration of fiber deployment across Europe.
Luxembourg, September 29, 2020 – Following successful closed commitments of €50 million during the summer, Cube Infrastructure Managers’ (Cube) Connecting Europe Broadband Fund (CEBF) is pleased to announce that it has made three new investments, representing €90 million invested in highly attractive Fiber to the Home (FttH) projects in Spain, Italy and Czech Republic.
In Spain, CEBF invests to deploy a high-quality FttH open-access network for residential and business users in Galicia, which will cover over 400,000 units in rural areas.
In Italy, we are partnering with Unidata to invest and deploy a high-quality FttH open-access network for residential and business users in Lazio, which will cover over 100,000 households and 5,000 businesses.
In Czech Republic, CEBF is backing a greenfield platform to deploy a FttH network covering lower density municipalities around Prague with an Open Access Network. The network will target over 200,000 households and expand across the country, targeting areas with similar characteristics.
These investments will allow the deployment of new generation fiber networks, allowing people and corporations to access higher speeds for uploading and downloading data. These networks will be deployed in targeted regions currently underserved in fiber connections, covering 700,000+ households and nearby businesses.
Izzet Guney, Managing Director at Cube Infrastructure Managers, said: “We are pleased to announce these new investments, and are planning to invest in additional projects in the coming months. The Covid-19 pandemic has shown us the importance of digital infrastructure, notably for remote working, and, by the way, decreasing travel which undoubtedly has a positive environmental impact. Through these new projects, CEBF will allow for increasing connectivity both for private people and for businesses across Europe.”
CEBF is an infrastructure fund focusing on greenfield and expansion projects in the European broadband infrastructure space with €470 million of committed capital and a target size of €500-600 million. The deployment of new generation fiber networks is allowing people and corporations to access higher speeds for uploading and downloading data, coping with the explosion of IP traffic.
Cube Infrastructure Managers
Public limited liability company
41 avenue de la Liberté, L-1931 Luxembourg
RCS Luxembourg: B 124233 – VAT LU 22154928
CEBF is managed by Cube Infrastructure Managers (Cube IM) and anchored by the European Commission, the European Investment Bank (EIB), the German KfW Bankengruppe, the Italian Cassa Depositi e Prestiti (CDP) and France’s Caisse des Dépôts et consignations (CDC) alongside European private investors.
About Cube Infrastructure Managers: Founded in 2007, Cube Infrastructure Managers is an independent management company, focusing on investments in the European infrastructure space addressing the essential infrastructure needs of local public authorities and populations, and fully consistent with its ESG commitments. Cube Infrastructure Managers has raised an aggregate €2.6 billion and manages three funds. Cube Infrastructure Fund and Cube Infrastructure Fund II are focusing on investments in regulated, brownfield infrastructure and target mainly three strategic markets, Public Transport, Energy Transition and Communication Infrastructure, with a “Buy & Grow” strategy.
The Connecting Europe Broadband Fund is a fund dedicated to investment in broadband infrastructure projects.
https://www.cubeinfrastructure.com/
Media Contact:
Cube Infrastructure Managers
Caroline Kragerud, Head of Investor Relations
+352 248 734 6874
Brunswick Group
Agnès Catineau, Xavier Mas
CUBEIM@brunswickgroup.com
+33 (0) 1 53 96 83 83
Projects should be referred to CEBF@cubeim.com or +352 248 734 68 00