South Africa: Infinite Partners acquires interests in three fibre network operators
These businesses have now been consolidated into a single holding company.
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Infinite Partners, a South African-based private equity fund manager, and the Public Investment Corporation (PIC) have announced the acquisition of a strategic interest in three fibre network operators: Net Nine Nine, Evotel, and LinkLayer. These businesses have now been consolidated into a single holding company, Fibre Holdco, dedicated to expand reliable and affordable fibre connectivity primarily to historically underserved communities, including townships and rural mining towns across South Africa.
Edward Pitsi, co-founder and chief executive officer of Infinite Partners, said: “This investment represents a significant step in the development of our new fund’s portfolio. Fibre Holdco will be the second portfolio company in our Fund II programme. It is a transaction that neatly marries our goal of investing in sectors supported by structural tailwinds whilst also delivering against our sustainable impact goals. As a firm, we are looking forward to partnering with Albert Oosthuysen, chief executive officer of the new Fibre Holdco, and our fellow shareholders, KLT and Myriad Capital, as we support the business over the next exciting phase.”
Kabelo Rikhotso, chief investment officer at the PIC said: “We are proud to partner with Infinite Partners to invest in Fibre Holdco, a venture that underscores our commitment to driving digital inclusion in South Africa. This investment enables the expansion of affordable fibre access to communities across all income levels, while supporting the development of infrastructure in areas where digital connectivity has historically lagged behind. It reflects the PIC's dedication to delivering meaningful social impact alongside sustainable financial returns.”
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