Antin Infrastructure buys into Florida broadband business OpticalTel

Antin Infrastructure Partners has bought a majority interest in OpticalTel, a fiber broadband provider in Florida.

The deal is Antin’s sixth investment through its mid-cap fund, which it closed on its €2.2bn hard cap in the summer of last year.

OpticalTel provides essential high-speed internet and telecommunication services, with a focus on residential bulk contracts to customers located in homeowners and condo-owners associations.

Antin senior partner Kevin Genieser said, “We see this partnership with the OpticalTel team as an immense growth opportunity.

“Fiber is at the core of modern infrastructure, providing mission-critical, low-latency bandwidth services to a customer base that has increasing demand for data.

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“We believe OpticalTel is very well-positioned to meet this need in the fast-growing Florida market.”

The transaction is expected to close in early 2023.

Antin’s huge fundraising progress continues, with the firm reaching the halfway point for its €10bn-targeting Fund V in October.

That amount has already put Antin well on track to equalling the €6.5bn it gathered for the hard cap close of Fund IV in 2020.

Fund V could reach up to €12bn if it strikes its own hard cap. Antin has been expecting to hold a second close before the end of this year.

Source: AltAssets

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