By Staff
PSP Investments is partnering with communications provider BCE Inc. to invest in the development of a fiber infrastructure company through Ziply Fiber.
The US$1.5B commitment would see the pension plan partner with BCE to create Network FiberCo through a long-term strategic partnership with Ziply that would accelerate the development of fiber infrastructure in underserved markets in the U.S.
Network FiberCo’s focus will be on last-mile fiber deployment outside of Ziply’s incumbent service areas, providing Ziply with access to up to 8M total fiber passings.
“PSP Investments is pleased to partner with BCE, a long-standing Canadian champion of innovation and connectivity, to support the development of fiber infrastructure in Ziply Fiber’s target markets, which benefit from secular tailwinds,” said Deborah Orida, PSP Investments’ president and chief executive officer.
“This commitment by PSP Investments will generate inflation-linked and downside-protected returns, which will contribute to fulfilling our mission to support the retirement of people who protect and serve Canada. PSP Investments has been an investor in Ziply Fiber, and this partnership, leveraging our global infrastructure experience, aligns perfectly with our strategy and strengthens our diversified portfolio.”
