Patrizia’s Smart Cities Infrastructure Fund (SCIF) is investing in a fiber-to-the-premise rollout project in upper Midwestern US.
The APG-backed SCIF through its partnership with SiFi Networks is investing in Kenosha FiberCity, a network project that will bring high-speed internet to the city of Kenosha in Wisconsin.
The project, which involves constructing 700 miles of fiber and 56 cabinets, is expected to be completed by November 2025.
Kenosha FiberCity is SCIF’s ninth investment and the sixth US city to benefit from the partnership between SiFi Networks and SCIF.
Last year, SCIF made its first investments in Europe, creating a €180m portfolio of Italian smart streetlighting companies.
Patrizia said the latest deal lifts SCIF’s global investment commitment in smart cities to over €600m.
Phoebe Smith, senior director at Patrizia Infrastructure, said: “We are thrilled to extend the FiberCity network to Kenosha in collaboration with SiFi Networks – a company in which we are a shareholder.
“Having already invested in four cities in California and one in Massachusetts, we are firmly committed to delivering open access, high-speed networks to millions of people across America. With the need to digitalise our economies only accelerating, enabling the development of smarter cities through innovative digital infrastructure is absolutely essential if we are to meet the future demands of our communities.”
Ben Bawtree-Jobson, CEO at SiFi Networks, said: “SiFi Networks have been busy at work in Kenosha for months and we are delighted with the experience to date and the opportunity to bring our FiberCity solution to residents and businesses in the city.”
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