RPMI Railpen invests in Gigaclear ultrafast broadband
RPMI Railpen (Railpen) today announces a total of £45 million of investment in Gigaclear, a leading provider of ultrafast broadband to rural areas in Britain. This is made up of a £35 million new investment into the Company and the purchase of £10 million of existing shares.
RPMI Railpen (Railpen) today announces a total of £45 million of investment in Gigaclear, a leading provider of ultrafast broadband to rural areas in Britain. This is made up of a £35 million new investment into the Company and the purchase of £10 million of existing shares.
This investment by Railpen comes at the same time as Gigaclear secured significant additional investment from existing shareholders including Infracapital and Woodford Investment Management.
Within Railpen, the Private Markets team focusses on illiquid investments across private equity, private debt and infrastructure, employing a range of strategies and methods to access the market either directly or through investment partners.
Paul Bishop, Investment Director, Railpen said:
“As a long-term investor, we see the partnership with Gigaclear as a natural fit that will allow us to generate strong returns over time and help fulfil our mission to pay members’ pensions securely, affordably and sustainably.”
Mirza Delibegovic, Investment Manager, Railpen said:
“We are pleased to have been able to invest in a great company in a sector we like, focussed on serving homes and businesses in rural communities which suffer from poor broadband connectivity and which have to date been under-served by incumbent ISPs. We are also pleased to partner with leading institutions such as Infracapital and Woodford Investment Management.”
Mathew Hare, Chief Executive, Gigaclear, said:
“This latest round of investment will enable Gigaclear to step up our speed of network delivery and is a clear signal of the confidence investors have in our continued expansion and success.”