DIF Capital Partners commits to Net Zero emissions today

DIF

DIF Capital Partners (“DIF”) is pleased to announce its commitment to Net Zero. As a globally operating private markets fund manager, DIF supports the goal of Net Zero greenhouse gas (“GHG”) emissions by 2050, in line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner. Since 2019, DIF has been measuring its own GHG emissions, taking steps to reduce its per capita emissions and offsetting the remainder. DIF is committed to continue doing this.

In addition, DIF commits to invest in line with the Paris Agreement targeting to achieve Net Zero emissions by 2050, or sooner, by taking the following steps:

  • Continue working with DIF’s portfolio companies to measure GHG emissions and identifying pathways to reduce emissions with the Paris aligned goal of net zero target by 2050, or sooner;
  • Continuing DIF’s global investment program into renewable energy and related infrastructure to support the global energy transition to decarbonised sources of energy;
  • Reporting in line with the Task Force on Climate-related Disclosures (“TFCD”) recommendations; and
  • Reporting on DIF’s progress annually.

Finally, DIF has become a signatory to the Institutional Investors Group on Climate Change (“IIGCC”) as part of its advocacy on climate change. Together with this initiative DIF will work towards Net Zero solutions for the infrastructure investment market.

Wim Blaasse, Managing Partner, further comments: “We believe that the single biggest threat faced by our generation is climate change. At DIF we see it as our responsibility to apply the same urgency of action to climate issues, as we have done in our response to coronavirus, and we invite all our stakeholders to join us on this commitment.”

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • Traditional DIF funds target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

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DIF Capital Partners invests in 108 MW onshore wind project portfolio in Poland

DIF

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure Fund VI has acquired 100% of four onshore wind projects in Poland, with a total capacity of 108 MW. DIF acquired the projects from German wind project developer Sabowind. As the projects are ready to build, DIF will invest throughout the construction of the projects.

The wind projects, which will be equipped with 54 Vestas V100 / V90 turbines, will be constructed under a turbine supply agreement by Vestas and under a tailored EPC contract by Sabowind. The projects are located across Poland. Construction commenced upon closing of the transaction and the projects are expected to become operational by Q3 2022 (two projects) and Q1 2023 (two projects). Once commissioned, Sabowind will be responsible for the technical and commercial management. The projects benefit from contracts-for-difference with the Polish state, providing fixed price tariffs for the power offtake for a period of 15 years.

The total production is estimated to be c. 300 GWh per year, which is the equivalent to the annual power consumption of around 75,000 households; thereby avoiding around c. 100,000 tonnes of CO2 emissions per year from fossil fuels. The projects will support Poland’s energy transition by expanding the country’s renewable energy capacity and reducing dependency on power production from fossil fuels.

Christopher Mansfield, Partner at DIF Capital Partners, said: “DIF is delighted to enter into its second onshore wind transaction in the Polish renewables market and to support Poland’s ongoing energy transition. The projects fit well within the investment strategy of DIF Infrastructure Fund VI and with the earlier acquired Polish projects form an attractive wind portfolio with a total capacity of 171 MW, which is expected to be fully operational within the next 24 months. The transaction once again underlines DIF’s strong position in and commitment to the renewable energy market.”

DIF was advised by DNB (financial), Allen & Overy (legal), PwC (tax and accounting) and DNV (technical).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

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DIF CIF II reaches final close above €1.0 billion target size

DIF

DIF Capital Partners (“DIF”) is pleased to announce the final close of DIF Core Infrastructure Fund II (“DIF CIF II”) at €1,012 million, exceeding its €1,000 million target.

DIF CIF II targets equity investments in the small- and mid-sized economic infrastructure market in pre-dominantly telecom, transportation and energy. DIF CIF II focuses on resilient companies and platforms that have a clear buy-and-build strategy – all with an asset-heavy business model. Its investments typically have medium-term contract cover and strong value enhancement potential. The fund targets both greenfield and operational investments, with a key focus on Europe and North America.

DIF CIF II is the successor fund of DIF CIF I, which held its final close in November 2017 at €450 million and invested in 13 companies and platforms in the telecom, energy and transportation sectors. DIF CIF II has seen strong backing from existing (both CIF and Traditional DIF funds) and new investors to the DIF platform, receiving commitments from leading institutional investors from EMEA and North America.

Allard Ruijs, Partner at DIF Capital Partners said: “We are thankful for the strong support received from investors for the DIF CIF II partnership. The CIF strategy is a relatively young strategy for DIF and the success of the fundraising of this second fund, especially during unprecedented and challenging Covid-19 times, shows the strength of the DIF platform and the attractiveness of the DIF CIF II proposition. The fact that many of our existing investors, from both DIF CIF I and the Traditional DIF funds, have backed this strategy proves that our investors value the complementarities of the two strategies. The fund will be leveraging DIF’s large global office network and dedicated local teams to source and manage attractive investment opportunities and build a resilient and diversified portfolio.”

DIF CIF II has made a strong start, having committed to five investments to date thereby deploying ca. 35% of the fund. This includes investments in (i) Valley Fiber, a Canadian telecom infrastructure platform, (ii) IELO, a French B2B wholesale fiber operator and developer, (iii) Touax Rail, a French railcar leasing company, (iv) 4th Utility, a UK fiber developer, and (v) Bartolomeo, an Irish container leasing platform. Furthermore, the fund has a strong pipeline of investments across its target sectors and geographies.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €9.0 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

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Valokuitunen secures strong lender financing for roll-out of fibre networks in Finland

Capman

CapMan Infra press release
25 May 2021 at 12.00 noon EEST

Valokuitunen secures strong lender financing for roll-out of fibre networks in Finland

Valokuitunen Oy, a joint venture between CapMan Infra and Telia, has secured 5-year loan facilities with Skandinaviska Enskilda Banken (SEB) and Nordic Investment Bank (NIB) for financing the roll-out of new fibre-to-the-home network connections in Finland.

The financing will continue to support Valokuitunen’s investments into new digital infrastructure and services, and expand the coverage of high-speed fixed line connections in residential neighbourhoods in Finnish growth centres and surrounding areas. Valokuitunen’s fibre network roll-out plan is estimated to enable high-speed internet access to more than 70,000 new customers by 2025.

Valokuitunen’s investment plan contributes to Finland’s national digital infrastructure strategy of providing a minimum of 100 Mbps internet connections to all households by 2025.

“Given the immense increase in the amount of data being transferred, the need for people and business to have access to fast and reliable network connections is clear. The establishment of new network infrastructure has crucial importance and a key role in guaranteeing that our member countries stay at the forefront of digitalisation“, says André Küüsvek, President and CEO of NIB.

“Valokuitunen is proud to partner with strong lenders in SEB and NIB, to continue its extensive roll-out plans in Finland. The last twelve months have illustrated the importance of high-speed and reliable connections, which allow people to work and study remotely. We look forward to continue improving the fibre infrastructure in Finland,” says Juha-Pekka Weckström, chairperson of the board.

 

For further information, please contact:

Sauli Antila, Investment Director at CapMan Infra, 040 658 9708, sauli.antila@capman.com

CapMan is a leading Nordic private assets fund manager, headquartered in Finland and listed on Nasdaq Helsinki. CapMan is invested in Valokuitunen through its CapMan Nordic Infrastructure I fund. CapMan Infra invests in sustainable energy, transportation and telecommunications infrastructure across the Nordics.

Telia Company AB is a Swedish multinational telecommunications company and mobile network operator present in Sweden, Finland, Norway, Denmark, Lithuania, Latvia and Estonia. Telia Company is headquartered in Sweden and is listed in Nasdaq Stockholm and Helsinki.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

SEB is a leading northern European financial services group offering financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank’s operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB’s business is reflected in its presence in some 20 countries worldwide.

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DIF Capital Partners and PERENfra announce North American water infrastructure partnership

DIF

DIF Infrastructure Fund VI, managed by DIF Capital Partners (“DIF”) and PERENfra LLC (“PERENfra”) are pleased to announce the signing of a partnership agreement to develop and acquire water infrastructure opportunities in North America. The partnership will focus on all areas of water for municipal and industrial uses, targeting large scale investments towards development of a significant portfolio of over USD $1.5 billion.

PERENfra is led by an experienced management team with a strong network in the water sector and has several investment opportunities already in process. DIF’s complementary expertise in development and infrastructure investment as well as access to capital through its DIF Infrastructure Fund VI will help accelerate growth of the portfolio. The partnership’s investment strategy focuses on both acquisitions of operational projects and late-stage development projects targeting water efficiency and reliability while providing positive social and environmental impacts.

Jeff Nelson, Founder and CEO of PERENfra said “We are proud and excited to partner with DIF to provide essential water infrastructure in North America and beyond. There is a transition coming in water infrastructure, and as the needs for water continue to become more complex, we have built an industry leading team with the right partners to provide safe, sustainable, efficient solutions for the long-term.”

“Significant capital is required for necessary upgrades in water infrastructure systems across North America. DIF is pleased to be partnering with the experienced specialist team at PERENfra in pursuit of critical investments in essential water infrastructure.” said Marko Kremer, Head of DIF North America.

DIF was advised by Allen & Overy (legal). PERENfra was advised by Davis Graham & Stubbs (legal) and Mount Vernon Partners (transactional).

 

About DIF Capital Partners:

DIF Capital Partners is a global independent investment fund management company with approximately €8.5 billion of funds under management. Through nine investment funds, DIF Capital Partners invests in high-quality infrastructure assets that generate long-term and stable cash flows, including water, transportation, renewable energy, regulated utilities, and other infrastructure projects in North America, Europe, South America and Australia.

https://www.dif.eu/

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

 

About PERENfra:

PERENfra is a United States based infrastructure company focused on operational and development opportunities in the water sector across various geographies. PERENfra takes a long-term approach to owning and operating essential assets and our team has a reputation of providing efficiency and certainty for our clients and partners. PERENfra currently owns and operates assets providing municipal water supply and environmental conservation.

https://www.perenfra.com/

 

EQT Infrastructure to sell Segra Commercial Services Business

  • EQT Infrastructure to sell Segra’s Commercial Services Business, a leading fiber-based provider of bandwidth services to commercial enterprise and wholesale carrier customers in the Mid-Atlantic and Southeast regions of the U.S., to Cox Communications
  • EQT Infrastructure to retain Segra’s residential and SMB business, where EQT Infrastructure has strengthened its commitment to support the business’ next phase of growth
  • Segra was created by EQT Infrastructure through the combination of three geographically contiguous businesses into a super-regional fiber infrastructure provider with an enhanced product portfolio and improved service capabilities
  • During EQT Infrastructure’s ownership, Segra experienced substantial growth and margin expansion through its investment in both new and existing markets, strategic add-on acquisitions and other operational initiatives

EQT is pleased to announce that the EQT Infrastructure III fund (“EQT Infrastructure”) has agreed to sell Segra’s Commercial Services Business to Cox Communications (“Cox”). EQT Infrastructure will retain Segra’s residential and SMB business, which operates under the Lumos Networks and NorthState brands.

Headquartered in Charlotte, North Carolina, Segra employs more than 1,200 people and provides broadband data services across a 26,000-mile fiber network to a variety of customers including wireless carriers, healthcare providers, local government agencies, financial institutions, education institutions, and residential customers. Ongoing digitalization and outsourcing trends are driving demand for broadband services, particularly in rapidly growing US metro markets such as the ones Segra serves. Together with the management team, EQT supported Segra in its organic and inorganic growth strategies and integration success to develop into the leading super regional fiber company it is today.

At the same time, EQT and the management team scaled Segra’s residential and SMB business by building out fiber to existing and new customers as well as through strategic add-on acquisitions.    Following the transaction, EQT plans to significantly accelerate the build-out of fiber-to-the-premise (“FTTP”) throughout the region, bringing high speed fiber bandwidth for the first time to a large number of markets, many of which to date, have been disadvantaged by no or low availability of quality high speed broadband connectivity.

“We are pleased to have found a good long-term home for Segra’s Commercial Services Business with Cox. Segra has transformed into an integrated, leading provider of broadband services to a variety of enterprise and carrier customers, and we are proud of the achievements we have accomplished alongside management. We thank Tim, the management team and employees, and the advisors in the EQT Network for their vision and guidance,” said Jan Vesely, Partner and Investment Advisor at EQT. “Furthermore, we are excited to retain the residential business and to accelerate the buildout of fiber to residential and SMB customers, bringing fiber to many underserved markets.”

Timothy Biltz, CEO of Segra, said, “EQT has been a great partner throughout Segra’s transformational journey, and we thank them for their guidance and support for nearly four years. Going forward, we are excited to work with Cox and look forward to leveraging their resources, capabilities and strategic insights to meet growing customer demand and accelerate long-term growth.”

The transaction is subject to customary conditions and approvals and is expected to close later in 2021.

Bank Street Group LLC and Goldman Sachs & Co. LLC acted as financial advisors and Simpson Thacher & Bartlett LLP acted as legal advisor to Segra.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Segra
Segra is one of the largest independent fiber infrastructure bandwidth companies in the Eastern U.S. It owns and operates an advanced fiber infrastructure network throughout nine Mid-Atlantic and Southeastern states. Segra provides Ethernet, MPLS, dark fiber, advanced data center services, IP and managed services, voice and cloud solutions, all backed by its industry-leading service and reliability. Customers include carriers, enterprises, governments, higher education and healthcare organizations. For more information about Segra’s technology and commitment to customer care, visit www.segra.com.


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Eurazeo launches the EURAZEO sustainable Maritime Infrastructure Thematic Fund

Eurazeo

Eurazeo is delighted to announce the launch of the Sustainable Maritime Infrastructure thematic fund (the Fund) to finance more environmentally friendly infrastructure and technologies in the maritime sector that support the transition to a low carbon economy. As a consequence, the fund will have the objective of pursuing sustainable development within the meaning of Article 9 of Regulation (EU) 2019/2088 (known as the “Disclosure Regulation”) and will participate directly in the deployment of O+, the Group’s ambitious ESG strategy – one of the pillars of which is the achievement of net carbon neutrality by 2040.

Currently, 90% of the world’s goods are transported by sea. Therefore, the decarbonisation of the maritime sector is crucial to the fight against climate change. To meet this challenge, the Fund will mainly finance three types of infrastructure: ships equipped with advanced technologies that negate or curtail environmental harm, innovative harbor equipment, and assets that contribute to the development of offshore renewable energy.
The Fund will support around fifty European facilities that will back the transition of the maritime economy to become carbon neutral by 2050 and in line with the ambition announced in the European Green Deal. Several renowned sovereign and institutional investors have already confirmed their involvement in the Fund, which has a target size of €300M.

The Fund, which will be managed by Idinvest Partners, offers investors with a limited risk appetite a highly desirable solution thanks to its asset financing operations, which will generate quarterly distributions from rents received on maritime assets. The Fund will directly own these maritime assets to further limit risk. As such, the Fund will benefit from Solvency Capital Requirement of less than 10%.
Since January 1 2020, shipping companies must significantly reduce their emissions under the International Maritime Organisation’s (IMO) new regulation on the reduction of the sulphur content of fuels (to 0.5% from 3.5%). This regulation is part of the IMO’s worldwide strategy and aims to reduce the shipping industry’s total greenhouse gas (GHG) emissions by at least 50% by 2050, relative to 2008 levels. The Fund will contribute to the reduction of GHGs as well as sulphur oxides (Sox) and nitrogen oxides (NOx) emissions, which are particularly harmful to air quality.

Christophe Bavière, member of Eurazeo’s Executive Board
Eurazeo is particularly proud to present to its investors a solution that meets Article 9 criteria. Many investors are in search for an investment program that has a concrete impact in the decarbonisation and the ecological transition. Eurazeo Sustainable Maritime Infrastructure thematic fund distinguishes itself by a reinforced protection of the capital.
Our new fund is a financing tool that will contribute to the reduction of greenhouse gas and sulphur, reduction measured audited by independent experts, then communicated to our investors. Its implementation, the process of which has been evaluated with full transparency by independent organisations, underlines our aims and ambitions to deploy meaningful funds that provide a response to the environmental and climatic challenges of our time.

Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15.0 billion from third parties, invested in over 450 companies. With its considerable private equity, real estate

EURAZEO CONTACTS PRESS CONTACT
PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
mail : pbernardin@eurazeo.com
Tél : +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33 1 44 15 76 44

MAITLAND/amo
DAVID STURKEN
mail:dsturken@maitland.co.uk
Tel: +44 ( 7990 595 913

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DIF Capital Partners agrees to sell a portfolio of European PPP assets to Equitix

DIF

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) and DIF Infrastructure IV (“DIF IV”) have agreed to the sale of their stakes in a portfolio of six European PPP assets to Equitix, a leading UK and European infrastructure fund manager.

The portfolio consists of shareholdings in a number of critical infrastructure projects that DIF invested into as primary transactions: A1/A6 Road, IJmond Sea Lock and N18 Road in the Netherlands; A7 Nord Road and Netz West Rolling Stock in Germany; as well as the KAV Vienna Hospital in Austria. With the exception of IJmond Sea Lock which is currently in the final stages of construction, all of the projects are operational under availability-based contractual structures that are backed by strong public counterparties.

Andrew Freeman, Head of Exits at DIF, said: “We are very pleased with the sale of this well diversified and optimised portfolio of North-Western European PPP assets which represents an attractive exit for our DIF III and DIF IV investors. We believe Equitix is an excellent counterparty and is perfectly positioned to manage the assets until maturity.”

Hugh Crossley, Chief Investment Officer for Equitix, said: “As we continue to diversify and grow our European portfolio, we are always looking out for attractive opportunities to acquire high-quality assets that meet our responsible investment criteria. The DIF portfolio does just this and will allow us to leverage our continental expertise for the benefit of investors in our European Infrastructure Fund.”

DIF was advised on the transaction by Cantor Fitzgerald and PwC (financial), Allen & Overy (legal), PwC (tax & accounting), as well as Atkins and Arup (technical).

Equitix was advised by CMS (legal), Deloitte (tax and accounting) and Arcadis (technical).

Closing of the transaction is subject to the receipt of customary approvals and consents.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

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KKR and DTCP Roll Out Fiber Infrastructure in the Netherlands

DTCP

Open access platform to deploy FttH broadband to a minimum 1 million homes by 2025, across urban and higher population density areas

T-Mobile Netherlands to become the first major tenant

The Hague, 7 April 2021 – KKR, a leading global investment firm, and DTCP, an investment management platform focusing on digital infrastructure and growth equity, today announced the launch of Open Dutch Fiber and a strategic agreement between Open Dutch Fiber and T-Mobile Netherlands.

Open Dutch Fiber, an independent platform majority owned by KKR and with DTCP as minority shareholder, will deploy Fiber-to-the-Home (“FttH”) broadband in the Netherlands across urban and higher population density areas, delivering high-quality fiber connections to Dutch households and businesses.

The platform has an open architecture and will make wholesale fiber services available to all operators. Open Dutch Fiber will begin operations in Q2 2021 with a fully-funded commitment for an envisaged capital expenditure of approximately €700 million and construction agreements already in place.

Open Dutch Fiber will be led by Jordi Nieuwenhuis and Uwe Nickl. Jordi and Uwe have a proven track record of delivering rapid, high-quality and cost-effective programmes to deploy fiber broadband. Most recently they were co-CEOs of Deutsche Glasfaser in Germany, supporting the rollout of next-generation digital infrastructure to more than 1 million homes and 6,000 businesses. Prior to his role at Deutsche Glasfaser, Jordi co-founded Reggefiber in the Netherlands. They will be joined at Open Dutch Fiber by Michael Griffioen as CEO, who will oversee the company’s day-to-day operations.

To support the rollout, Open Dutch Fiber has signed an agreement with T-Mobile Netherlands, the leading mobile operator and FMC challenger in the Netherlands. T-Mobile Netherlands, which currently has a mobile base of 6.8 million customers and a fixed base of 682,000, will be the anchor tenant for Open Dutch Fiber with a 20-year agreement.

Jordi Nieuwenhuis, co-founder of Open Dutch Fiber, said: “High-quality and reliable fiber connectivity is essential for the Netherlands and this has only been accelerated with the structural changes to working patterns of companies and citizens brought about by the COVID-19 crisis. We are building a digital infrastructure platform with open access to all operators, to ensure an efficient and rapid deployment of capital resources, while avoiding uneconomical overbuild. We look forward to making a significant contribution to the digitization of the Netherlands to benefit Dutch households and businesses.”

Cristina González, Managing Director in KKR’s EMEA Infrastructure team, said: “We are excited about the opportunity ahead for Open Dutch Fiber as an independent FttH platform in the Netherlands, and one which will support the rollout of critical infrastructure for Dutch society. KKR will support Open Dutch Fiber with capital and deep expertise in delivering large-scale fiber deployment programmes.”

“The creation of Open Dutch Fiber is an important milestone in the acceleration of fiber rollout in the Netherlands and a blueprint for innovative financing solutions in European digital infrastructure. We are firm believers in the sharing of digital infrastructure and are establishing Open Dutch Fiber as an open access model, enabling attractive economics for operators and best prices for consumers. We look forward to the collaboration with our partners”, said Vicente Vento, Co-Founder and CEO of DTCP.

KKR will be making the investment through its Global Infrastructure Investors Funds. KKR first established its Global Infrastructure strategy in 2008 and has since been one of the most active infrastructure investors around the world with a team of more than 50 dedicated investment professionals. The firm currently manages over $27 billion in infrastructure assets and has made over 40 infrastructure investments across a range of sub-sectors and geographies. Open Dutch Fiber will benefit from KKR’s expertise in digital infrastructure and fiber deployment, following similar recent investments in Deutsche Glasfaser in Germany, Hyperoptic in the UK and FiberCop in Italy.

DTCP Infra invests in European digital infrastructure across three verticals: towers, fiber, and data centers. The DTCP Infra team has an established track record creating innovative solutions for digital infrastructure development in collaboration with its financial and industrial partners. The firm’s investments in Swiss Towers and in Community Fiber provide relevant experiences for the benefit of Open Dutch Fiber.

Morgan Stanley acted as exclusive financial advisor and De Brauw Blackstone Westbroek as legal advisor to Deutsche Telekom/T-Mobile. Clifford Chance acted as legal advisor to KKR and DTCP.

-ends-

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About DTCP

DTCP is an investment management platform focused on digital infrastructure and growth equity. Founded in 2015, the firm has raised more than $1 billion in funds from corporate and institutional investors and invested in over 60 companies. DTCP Infra invests in digital infrastructure across mobile towers, fiber, and data centres. DTCP Growth invests in leading enterprise application and infrastructure software companies. DTCP has a dedicated team supporting its portfolio companies and its industrial partners. DTCP is headquartered in Hamburg with offices in Menlo Park, Tel Aviv, and Seoul. To learn more about DTCP, please visit dtcp.capital, or on Twitter @dtcp_capital.

Media contact

Alastair Elwen, FGH

+44 20 7251 3801 | KKR-Lon@finsbury.com

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Gimv invests in Verkley, a specialist contractor in cable and pipeline networks for energy and water

GIMV
Topic: Investment

Gimv announces that it has acquired a majority shareholding in Verkley, which specialises in building and maintaining underground cable and pipeline networks for energy and water. Gimv has acquired the shares from PMH Investments in Heerenveen). Verkley’s experienced management is also reinvesting. In cooperation with Gimv, Verkley is keen to anchor and expand its activities as an important northern Dutch player in underground infrastructure in a sustainable way.

Investment in public utilities is a must: with solar energy and wind power coming to the fore, and with growing demand for electrical energy for electric vehicles, heat pumps, ICT systems and other uses, today’s electricity networks are inadequate for the future. In the northern Netherlands in particular, many electricity networks need to be significantly reinforced. Parallel with this comes water transition: water resources made scarcer by climate changes demand good management, including major investments to maintain and replace existing drinking water networks.

The opportunities and growth possibilities for a well-reputed player like Verkley (Drachten – NL, www.verkley.nl) are great. For 50 years, the company has been building mains and connecting piping for network companies in the northern Netherlands. Next to that Verkley specialises in consultancy, engineering and project management for cable and pipeline networks. In order to deepen its service to its clients, Verkley is also keen to expand its specialization in engineering and more complex horizontal soil drilling (trenchless technologies). With Gimv, Verkley has found the right partner to realise these ambitions.

Verkley enjoys a strong reputation for quality, safety, flexibility and technical competence, criteria that are very important in its customers. In this way the company has built up an impressive customer base over the past decades, with many multi-year contracts. With some 150 permanent employees and 150 flex workers, the company is able to respond quickly and flexibly to changing circumstances. Verkley generated a turnover of EUR 38 million in 2020 out of two facilities, one in Drachten (head office) and one in Groningen.

Erik Blauw, CEO of Verkley, explains: “With the arrival of Gimv and its expertise, we hope to be an even better partner for our customers. By taking on board this experienced partner with a strong network in our sector, we are ready for the next phase of growth. Our shared vision on long-term value creation is the best guarantee for success in our markets and for continuity for all our stakeholders. At the same time if offers greater career opportunities and development prospects for our employees.”

Rombout Poos and Roland Veldhuijzen Van Zanten (Gimv), form the deal team. In their words: “Verkley is a strong player in a segment that responds to important trends that are closely aligned with the strategy of our Sustainable Cities platform. We look forward to working with Erik Blauw and his team to realise the further expansion of Verkley – and with it the energy and water transition in the Netherlands.”

Erik Mampaey, Managing Partner Gimv and Head Sustainable Cities, adds:“Through its Sustainable Cities platform, Gimv once again invests in the energy transition towards a data-driven sustainable society, one of the greatest ESG challenges that we actively embrace.”

Durk van der Meer, managing director of PMH Investments, says: ‘It is not easy to say goodbye to a magnificent company, after working together to bring Verkley to its present outstanding condition. But a change of shareholders is good for the company’s next growth phase and for maintaining its market position through excellence.”

The transaction is subject to customary closing conditions, including approval by the competition authorities. No further financial details on this transaction are being published.

Read the full press release:

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Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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