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Cube IM taps €555m Connecting Europe Broadband Fund to invest in FTTH project in Spain

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Cube Infrastructure Managers has tapped its €555m Connecting Europe Broadband Fund to invest in a wholesale fibre-to-the-home project operated by ASTEO Red Neutra in Spain.

The €40m investment is the fund’s eighth investment in Europe and the second one in Spain.

ASTEO Red Neutra facilitates connectivity and digitalization so that telecommunication operators can provide communication services to rural areas.

Izzet Guney, managing director at Cube Infrastructure Managers, said, “We are pleased to announce this new investment which will allow the deployment of new fiber networks generation to connect less populated areas across Spain. With this transaction, CEBF is pursuing its investment program in a dynamic environment while continuing to push for an acceleration of fiber deployment at European level.”

The Luxembourg-based buyout house closed its Connecting Europe Broadband Fund at €555m in July, beating its €500m target.

It held the first close of its third flagship fund on €1bn last month, reaching 65% of its €1.5bn target. The firm held a first close for its €1.2bn-targeting Infrastructure Fund II on €358.5m in 2016.

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