Barings has completed a substantial investment in GigaSphere Holdings on behalf of clients and accounts managed by Barings.
The Company, which does business under the brand name GigaMonster, provides fibre-optic-based telecommunications products and services to the multifamily and commercial real estate industries.
“Worldwide 5G network infrastructure revenue is projected to reach USD4.2 billion in 2020 and GigaMonster’s UAN infrastructure technology is designed to support the mobile 5G market of the future,” says Mike Baumstein, Deputy Head of the Barings Private Equity & Real Assets team. “Barings has been deploying capital in cell towers, DAS systems, fibre networks, spectrum and data centres since 2009. As 5G and the Internet of Things continues to accelerate at a rapid pace, we believe this investment is one that will add innovation and diversification to our client’s portfolios and will continue to leverage the experiences of the Barings real estate group.”
Based in Atlanta, GigaMonster offers customer-centric networks in multi-family communities and commercial buildings. The Company leverages strategic relationships with property owners to install its carrier-neutral, fibre-optic-based Universal Access Network (“UAN”) for its customers. GigaMonster is contracted to provide services to over 450 properties in over 45 markets across the US.
“GigaMonster and Barings recognise the need for wireless, carrier-neutral network solutions to support the 5G movement, and other technologies,” says Bill Dodd, GigaMonster CEO. “We are excited to partner with Barings in order to deploy the UAN in the buildings and campuses owned and controlled by our strategic partners.”
Hogan Lovells US served as Barings’ legal advisor on the transaction, while MVP Capital served as the Company’s financial advisor on the transaction.
