Mubadala to invest $500m in broadband and telecom firm Brightspeed

• Brightspeed officially launched operations in October 2022
• Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Brightspeed while King & Spalding LLP is serving as legal counsel to Mubadala
• Mubadala is focused on generating sustainable financial returns for the government of Abu Dhabi

Mubadala will invest $500 million in Charlotte, North Carolina-based Brightspeed, a broadband and telecommunications company.

With this investment, Mubadala will become a minority shareholder alongside Apollo Global Management, Inc.

Brightspeed officially launched operations in October 2022.

On the transaction, Khaled Abdulla Al Qubaisi, CEO of real estate and infrastructure investments at Mubadala, said in a statement, “Digital infrastructure is driving growth and development across all sectors of society, enabling people and economies to reach their full potential. As a responsible global investor, Mubadala sees huge opportunity in supporting Brightspeed’s growth strategy in transitioning large swathes of the U.S. to fiber connectivity and promoting digital equity and inclusion.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Brightspeed. King & Spalding LLP is serving as legal counsel to Mubadala.

Mubadala is focused on generating sustainable financial returns for the government of Abu Dhabi.