Hamburg Commercial Bank finances further optic-fiber project for Primevest Capital Partners
- Expansion of Fiber-to-the-Home network for 45,000 private households in Hanover, Leverkusen and Münster
- Funding under KfW's "Digital Infrastructure" program
Hamburg, July 4, 2022 - Hamburg Commercial Bank (HCOB) provides a long-term financing of EUR 35 million to the "Communication Infrastructure Fund" launched by Primevest Capital Partners (Primevest CP) for the expansion of fiber-optic infrastructure in the regions around Hanover, Leverkusen and Münster.
The investment loan is funded under the German government's KfW Digital Infrastructure program, which was launched to support the construction and expansion of the fiber-optic network. As Primevest CP's principal bank in Germany, Hamburg Commercial Bank integrated the program into this financing. Under the project, the fiber-optic networks in Lower Saxony and North Rhine-Westphalia will be further expanded and leased to interested Internet providers. Around 45,000 private households will be supplied with Fiber-to.the-Home (FTTH) connections.
"We have come to know Primevest CP as a very experienced investor in the digital infrastructure sector and are pleased to continue our cooperation with this transaction," said Inka Klinger, Head of Project Finance at HCOB. "In a European comparison, Germany's fiber penetration rate of just under 15 percent is far below the European Commission's target which averages 40 percent. KfW's 'Digital Infrastructure' program is used as an accelerator for fiber-optic expansion and was also involved in this project. With this financing, we are supporting the roll-out of a modern and sustainable FTTH network in Germany."
Bas van Dongen, Partner Communications Infrastructure at Primevest CP, said, "With this new project, we have further strengthened our good relationship with HCOB, benefitting from the expertise of the infrastructure finance specialists that support Primevest in its ambition to further grow the investment portfolio. With many investments in the pipeline, we expect more announcements to follow soon."
About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitancommunities, while enhancing the quality and sustainability of people’s lives. From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manage €3 bn in assets including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of the Holland Immo Group. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.
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