Stonepeak portfolio company euNetworks Group, a Western European bandwidth infrastructure company, has closed on a €2.1 billion ($2.3 billion) equity recapitalization.
Key investors in the recap included a Stonepeak-managed vehicle anchored by Mercer and Aware Super, and direct investments came from the Investment Management Corporation of Ontario (IMCO) and APG Asset Management (APG).
euNetworks builds and invests in city and long-haul fiber networks to connect key European data centers and data hubs. The company owns and operates deep fiber networks in 18 cities, as well as a highly differentiated long-haul network that spans 45,000 route kilometers (27,961 miles) across 17 countries.
euNetworks currently directly connects more than 542 data centers in Europe and aims to continue advancing its leadership position in the rapidly evolving connectivity and bandwidth infrastructure space as data center needs grow.
The recapitalization follows the companyâ