Infracapital, the infrastructure equity investment arm of M&G, has announced plans to launch a new platform focused on designing, building and operating broadband on a large scale in underserved regions in rural and semi-rural Austria.
The platform, Speed Connect Austria, will target several federal states to provide the infrastructure for an open access wholesale fibre network. Austria currently has one of the lowest levels of full-fibre coverage in Europe and relatively low fixed broadband speeds compared to elsewhere in the region, providing a significant market opportunity.
Speed Connect Austria is led by a local management team with an excellent track record in telecoms project management and construction. The platform will be chaired by Alexandra Reich, the former CEO of Dtac and Telenor Hungary, and a prior senior executive of Swisscom and Sunrise. Infracapital will draw on its extensive experience of rural fibre roll-out in other areas of Europe, including Germany, Poland and the UK.
Speed Connect Austria is the third fibre investment made by Infracapital Greenfield Partners II (IGP II) and the sixth investment made by the Fund, continuing on from the strong start made to deployment prior to final close in October 2021. Infracapital’s greenfield strategy is to build, deliver and operate essential and sustainable greenfield infrastructure across Europe.
Michele Armanini, Greenfield Managing Director at Infracapital, said:
“We are excited to expand our investment in European fibre and significantly enhance Austria’s connectivity. As we transition further to a more digital world, reliable broadband will underpin sustainable economies. The opportunity we see with Speed Connect Austria further evidences the strong deployment success we are having with IGP II.”
If you require any further information, please contact:
Tom Murray / Jordan McCulla tel. +44 20 7353 4200
Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over £6.5 billion of client capital across six funds.
Infracapital is part of M&G Plc, a leading European savings and investments business. M&G manages the long-term savings of more than 5 million people and is a major investor in the UK and in the global economy. Total assets under management are £370 billion (as at 30 June 2021).