French telecom operator Altitude Infrastructure has raised more than €500 million ($591 million) in equity and junior debt to fund its growth in the French fiber market.
The equity funds have been raised through a pension fund allocation managed by UBS Asset Management's real estate and private markets division.
Altitude Infrastructure said it is planning to invest more than €2.5 billion ($3 billion) over the next three years to accelerate the development of fiber in France.
“Digitalizing French companies successfully requires urgent deployment of a fiber optic network that fits the needs of companies across the country,” said Dorothee Lebarbier, CEO of Altitude Infrastructure. “Our ambition for Altitude, via Kosc, is to develop a solutions-centric offering that addresses the specific needs of corporates."