Edinburgh investment giant Abrdn said its Concession Infrastructure business, a long-term investor in infrastructure projects across the world, has made a strategic investment in France’s NGE Fibre.
Abrdn said NGE Fibre holds “significant participations in two FttH (Fibre To The Home) concessions operating c.1.4 million homes passed across rural areas in Region Grand-Est in France.”
Abrdn added: “This marks another significant milestone in Abrdn Concession Infrastructure’s commitment to investing in digital infrastructure.
“The transaction represents the team’s first major FttH transaction in France, following a series of successes in Spain.
“Abrdn’s portfolio now consists of 5.4 homes passed.”
Eloi Daniault, senior investment director, Concession Infrastructure, Abrdn, said: “We’re thrilled to announce this investment in NGE Fibre, and a long-term partnership with NGE Concessions and TINC in France.
“Following three significant investments made in the Fibre sector in Spain since 2019 spanning 4 million homes passed, investing in NGE Fibre brings Abrdn Concession Infrastructure to c. 5.4 million homes passed.
“This marks another major milestone in Abrdn’s commitment to enabling local communities to get crucial access to reliable superfast broadband.”
The project has been invested from ASEIP IV, Abrdn Concession Infrastrucure’s fourth Pan-European infrastructure fund, which was raised in March 2021 for an initial €450 million.
The fund targets social and economic infrastructures across the social, transportation, telecommunications and environmental sectors.
It is managed by the Abrdn Concession Infrastructure platform, which manages a portfolio of infrastructure assets in Europe, Northern and Latin Americas, Australasia and the Gulf.
The Abrdn group manages and administers almost £500 billion of assets for clients. Its investments business manages £368 billion on behalf of clients, including insurance companies, sovereign wealth funds, independent wealth managers, pension funds, platforms, banks and family offices.