BRUNSWICK, Ga.--(BUSINESS WIRE)--LiveOak Fiber, an emerging regional broadband service provider announces today that the newly formed company received an initial $150 million investment from InfraRed Capital Partners (“InfraRed”) to build a world-class 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.
InfraRed’s investment and partnership with LiveOak Fiber addresses the expanding digital divide in the Southeastern U.S. When complete, the new network will provide fiber-based broadband and communications solutions to better serve homes and businesses throughout each region. Residents can expect a robust internet service with speeds up to 10Gbps – the fastest in the nation – and a suite of next-generation business communications.
“These initial deployments are in underserved areas that lack the critical connectivity needed to foster both a growing population and attract new businesses,” says Jody Craft, President of LiveOak Fiber. “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 proud to partner with LiveOak Fiber, a remarkable team that is committed to providing communities with necessary digital infrastructure and internet services, designed to enable social and economic growth,” says Jack Paris, Head of Americas at InfraRed Capital Partners. “InfraRed continues to grow its presence in the U.S. market by making value-accretive investments in target sectors, funding and developing critical digital infrastructure that connects communities.”
InfraRed is allocating $150 million to LiveOak Fiber for the initial roll out but expects the investment opportunity to grow over time as the network expands. The company will begin construction in Q3 2022 and plans to offer initial services in Q1 2023.
To learn more about InfraRed: https://www.ircp.com/
To learn more about LiveOak Fiber’s network route and services, visit: www.liveoakfiber.com
About LiveOak Fiber:
LiveOak Fiber is building a world-class fiber network to deliver the fastest broadband internet to homes and businesses. The company is committed to investing in the communities they serve by delivering modern digital infrastructure needed to improve the quality of life and drive economic growth. Learn more about our investments in quality of life at www.liveoakfiber.com and follow us on LinkedIn, Twitter, and Facebook.
About InfraRed Capital Partners:
InfraRed Capital Partners is an international infrastructure investment manager, investing in real assets which contribute positively to society and support the transition to a net zero future. It operates worldwide from offices in London, New York, Sydney and Seoul. With around 170 professionals, it manages US$12bn+ of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.
At InfraRed, a long-term, sustainability-led mindset is essential to delivering lasting success, and this mindset directs its assessment and management of the Environmental, Social and Governance (“ESG”) aspects of its business. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has been awarded triple A+ score in the 2020 review (relating to the 2019 assessment period). It is also a member of the Net Zero Asset Manager’s Initiative, a certified CarbonNeutral® company1 and is a TCFD supporter.
InfraRed is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. Over the past 30 years, InfraRed has established itself as a highly successful developer and custodian of core infrastructure, renewable energy and real estate assets that play a vital role in supporting sustainable communities.
