Wafra and Post Road invest in fiber infrastructure developer IIG

• Latham & Watkins LLP and Covington & Burling LLP served as legal advisors to Wafra
• Orrick, Herrington & Sutcliffe LLP served as legal advisor to Post Road
• IIG was advised by Bank Street Group LLC as financial advisor and Holland & Knight LLP as legal counsel

Wafra Inc and Post Road Group have made an investment in Burlingame, California-based Intermountain Infrastructure Group LLC, a fiber infrastructure developer and operator. No financial terms were disclosed.

Founded in 2017, IIG is led by co-founder, president, and CEO Jeff Yount and Chief Operating Officer Brady Adams.

“Increases in global bandwidth consumption continue to strain existing long-haul fiber infrastructure, requiring meaningful investment to support the networks of the future,” said Adel Alderbas, chief investment officer of Wafra, in a statement. “IIG’s management team has a long history of delivering fiber routes to serve the needs of the industry’s most sophisticated customers. Alongside the Post Road team, we are excited to support the growth of IIG’s network as it serves growing customer needs.”

Latham & Watkins LLP and Covington & Burling LLP served as legal advisors to Wafra. Orrick, Herrington & Sutcliffe LLP served as legal advisor to Post Road. IIG was advised by Bank Street Group LLC as financial advisor and Holland & Knight LLP as legal counsel.

Based in New York, Wafra has approximately $31 billion of assets under management.

Located in Stamford, Connecticut, Post Road Group has about $1.4 billion of assets under management.