Northleaf Capital Partners has made an initial investment of $200 million to Tillman FiberCo, a developer and owner of symmetrical gigabit broadband services
Northleaf will potentially invest up to $300 million, officials at the $23 billion global private markets investment firm announced.
Tillman FiberCo plans to use the capital from Northleaf to accelerate fiber-to-the home across underserved neighborhoods across the U.S., offering its open access network to both residential and business customers. Tillman is part of Tillman Global Holdings, a holding company founded by Sanjiv Ahuja that is focused on investing in and operating telecommunications and energy infrastructure businesses in developed and emerging markets.
This investment is an excellent fit with Northleaf’s communications infrastructure strategy, providing investors with exposure to an attractive sector while mitigating downside risk,” said Chris Rigobon, managing director at Northleaf.
“We’re delighted to partner with Tillman Global Holdings and the Tillman FiberCo management team, both of whom have deep industry relationships and decades of operational expertise,” said Rigobon. “Tillman FiberCo’s wholesale business model, which is supported by a large anchor customer order, ensures the long-term revenue stability that our investors look for in our infrastructure portfolio.”
TD Securities served as financial advisor and Kirkland & Ellis served as legal counsel to Northleaf. TAP Advisors served as financial advisor and Sullivan & Cromwell acted as legal counsel to Tillman FiberCo.
