- The company will begin construction in the third quarter of this year and plans to offer initial services in the first quarter of next year
- InfraRed expects its investment in LiveOak to grow over time
- InfraRed is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life
LiveOak Fiber, a regional broadband service provider announces, has secured a $150 million investment from InfraRed Capital Partners.
The funding will be used to build a fiber network in Glynn County, Georgia and Okaloosa County, Florida. The new network will bring fiber-based broadband to homes and businesses, ensuring access to affordable and reliable digital infrastructure to these traditionally underserved markets.
“These initial deployments are in underserved areas that lack the critical connectivity needed to foster both a growing population and attract new businesses,” said Jody Craft, resident of LiveOak Fiber, in a statement. “Constructing and providing fiber-based broadband to these counties in Georgia and Florida will enable a rich suite of modern communication services for the residents and businesses.”
InfraRed is allocating $150 million to LiveOak Fiber for the initial rollout but expects the investment opportunity to grow over time as the network expands. The company will begin construction in the third quarter of this year and plans to offer initial services in the first quarter of next year.
InfraRed Capital Partners has offices in London, New York, Sydney and Seoul. With around 170 professionals, it manages $12 billion plus of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.
InfraRed is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.