An investor consortium consisting of Värde Partners, Bardin Hill Investment Partners, and Portsea Asset Management has agreed to sell its stake in global data-communications-service provider GCX Holdings (GCX). The buyer is 3i Infrastructure, which will pay $512 million to acquire 100 percent of GCX.
GCX provides high-bandwidth connectivity to a range of blue-chip customers including hyperscalers, telecommunications operators, new media providers, and enterprises. The company also owns one of the world’s largest private subsea fiber-optic networks. Its 66,000 kilometers (41,010 miles) of cables span 46 countries from North America to Asia.
“Having initially invested as a bondholder in GCX, we were pleased to support the company’s recapitalization and continue working with the business in our capacity as a shareholder,” said Sandeep Chandak, managing director at Värde Partners. “GCX’s successful restructuring, led by Värde in 2019, reflected our belief in
