altafiber raises $600m for continued fiber network expansion
Investors - AUGUST 30, 2023

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altafiber raises $600m for continued fiber network expansion

by Released

altafiber has raised $600 million in new funding to support the continued construction of the company’s fiber networks throughout incumbent and expansion markets in Ohio, Kentucky, Indiana and Hawaii. The equity raise was solely supported by existing investors, funds managed by Macquarie Asset Management, Ares Management and supporting co-investors.

Since the close of the “take-private” transaction in September 2021, the company has passed approximately 300,000 addresses with fiber now totaling more than 1.1 million homes passed with fiber. The company expects to complete the construction of fiber to every single-family unit within Greater Cincinnati by the end of 2023. The completion of the construction of Hawaii’s statewide fiber network is expected by the end of 2027.

In combination with previously announced expansion markets, altafiber now has plans to expand its multi-gigabit fiber network to  approximately 400,000 homes outside of its incumbent territori

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