The Investment Management Corporation of Ontario (IMCO) today announced that it will invest in euNetworks, a leading pan-European fiber network provider. IMCO will acquire its interest through a co-investment with Stonepeak Infrastructure Partners, a U.S.-based infrastructure manager. Stonepeak, together with its investors, will hold majority control of euNetworks.

“This is an attractive opportunity for IMCO to acquire a position in a sector that is well positioned for future growth,” said Jill Pepall, EVP & Chief Investment Officer of IMCO. “This type of investment is compelling because it provides our clients with access to world-class infrastructure assets and aligns with their long-term return objectives.”

With over 20,000 km of metro and long-haul fiber, situated in key metro markets covering 49 cities in 15 countries throughout Europe, euNetworks’ assets serve as core internet infrastructure providing mission critical bandwidth connectivity services to a customer base with ever- increasing demands. The Company has established a distinct competitive advantage by targeting large, high-quality, sophisticated customers that require multiple products across multiple locations.

With its considerable telecommunication and data center industry experience and deep customer relationships, euNetworks’ management team will continue to lead the business and execute the Company’s strategy. Financial terms of the transaction were not disclosed.