OMERS announced today that it has closed its previously announced investment in SFR FttH. OMERS Infrastructure led a consortium, which includes Allianz Capital Partners and AXA Investment Managers, to invest alongside Altice France in the newly created platform.
SFR FttH is the largest alternative fibre-to-the-home (FttH) infrastructure wholesale operator in France, with 5 million homes to be passed in the coming years. SFR FttH operates in the well-developed French telecom market, and benefits from a bespoke contractual structure for rolling out the network with a well-regarded operating partner.
“We are delighted to announce the funding of SFR FttH, an OMERS-led corporate partnership with Altice France. This venture, which enables the deployment of fibre optic networks across French local communities, is OMERS first major greenfield investment in the telecom infrastructure space. This investment fits our strategy of investing alongside high-quality partners in companies that generate predictable returns to help meet our obligations to OMERS pension plan members. The transaction also marks our entrance into the French market, while adding to our diverse portfolio of assets in Europe,” said Philippe Busslinger, Head of Europe for OMERS Infrastructure.
“Having closed on the transaction, we will now focus our efforts on supporting the management team in deploying the network, which will provide households in France with access to ultra-fast broadband and creating value for all stakeholders over the long term,” Mr. Busslinger added.