Barings has made a substantial investment in GigaSphere Holdings, a fiber-optic telecommunications company that services the multifamily and commercial real estate industries via brand name GigaMonster.
The investment was made on behalf of clients and accounts managed by Barings. Financial terms were not disclosed by the companies.
“Worldwide 5G network infrastructure revenue is projected to reach $4.2 billion in 2020, and GigaMonster’s UAN infrastructure technology is designed to support the mobile 5G market of the future,” said Mike Baumstein, deputy head of the Barings private equity & real assets team. “As 5G and the Internet of Things continue to accelerate at a rapid pace, we believe this investment is one that will add innovation and diversification to our clients’ portfolios and will continue to leverage the experiences of the Barings real estate group.”
The Atlanta-based company is contracted to provide services to over 450 properties in