Primevest Capital Partners has acquired a fibre-optic network in Germany for its existing joint venture with Munich Re鈥檚 asset management arm MEAG and German pension fund 脛rzteversorgung Westfalen-Lippe (脛VWL).
Open German Fiber, a joint venture established in 2022, has purchased a network in the German city of Bad Nauheim from the local municipal utility.
It will continue the roll out of fibre-to-the-home (FTTH) broadband in the town through a cooperation agreement with Stadtwerke Bad Nauheim.
Primevest said it was partnering with internet service provider YplaY in Bad Nauheim.
Klaus Kre脽, mayor and chairman of Stadtwerke, said: 鈥淲ith Primevest鈥檚 expertise in communication infrastructure investment, we are now able to further expand the fibre-optic network throughout our catchment area.
鈥漈his strategic partnership unlocks the financial and operational capabilities needed to provide high-speed internet services for every resident of Bad Nauheim, ensuring our city is well-prepared for the future.鈥�
Klaus Leckelt, senior acquisition manager at Primevest, said: 鈥淭he shared objective among all cooperation partners is to establish full coverage of FTTH fibre-optic network for all parts of the city, ensuring optimal access for all citizens. This overarching goal serves as the cornerstone for all our investments.鈥�
Primevest said it had built up a diversified portfolio of cash-generating fibre networks on a long-term lease model for its first communication infrastructure fund and Open German Fiber joint venture.
The company is also raising capital for a second communication infrastructure fund, which will focus on Germany, The Netherlands, Austria and Belgium.
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