APG Group, on behalf of its Dutch pension fund clients, has agreed to acquire a 16.7 percent direct stake in SiFi Networks America and establish a joint venture to roll out open-access fiber-to-the-home (FTTH) networks in the United States.
As part of the agreement, APG is investing $500 million in the fiber joint venture, which will offer fiber connections to underserved communities throughout the United States. Existing partner Whitehelm Capital will provide asset management services for the joint venture during the roll-out period.
SiFi is one of the first companies to successfully deploy FTTH networks in the United States under an open-access business model. The company is constructing FTTH networks in multiple cities and has signed development agreements with many more. SiFi is expected to deploy billions of dollars of capex over coming years into open-access FTTH networks.
“APG is excited to announce an additional investment with SiFi that will position