Zephyrnet Logo

Blackstone taps Tac Opps, infra funds to buy US fibre internet provider Hotwire Communications

Date:

Buyout major Blackstone bought into fiber-to-the-home provider Hotwire Communications through its Tactical Opportunities and Infrastructure Partners funds.

Blackstone is currently targeting $4bn of capital for its Tac Opps IV raise, specialising in investments which are time sensitive, complex or mispriced due to dislocated markets. It raised $14bn for its debut infra fund two years ago.

Founded in 2000,  Hotwire’s fiber network deliver internet and telecommunication services to high-rise multi-dwelling units, gated communities, and homeowners’ associations across Florida, Georgia and the Carolinas. The company said it had previously been named by Netflix as the fastest consumer internet provider in the country.

Jasvinder Khaira, a senior managing director at Blackstone Tactical Opportunities, said, “Consumers are increasingly seeking state-of-the-art fiber connectivity to meet their growing need for connected devices in their homes, and we believe Hotwire is exceptionally well positioned to capitalize on this rising market demand.

“We look forward to leveraging Blackstone’s scale to turbocharge Hotwire’s growth with further investment.”

Fellow buyout house KKR bought into private equity-backed fibre-optic communications business MetroNet earlier in the month to grow its fiber-to-the-premises (FTTP) data, television, and telephone services to homes and businesses.

It has also teamed with investment manager DTCP to launch Open Dutch Fiber amid a strategic agreement between the business and T-Mobile Netherlands, which will be its anchor tenant on a 20-year agreement.

Copyright © 2021 AltAssets

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/blackstone-taps-tac-opps-infra-funds-to-buy-us-fibre-internet-provider-hotwire-communications.html

spot_img

Latest Intelligence

spot_img