- Kenosha, Wisconsin, is the sixth city in the US to benefit from an open access, city wide, fibre-to-the-premise (FTTP) rollout through the partnership between PATRIZIA’s Smart Cities Infrastructure Fund (SCIF) and SiFi Networks
- Kenosha FiberCity® - the largest of the six SCIF FiberCity® investments - will provide 40,000 residents and businesses with 10 gigabit per second (GBPS) enabled network speeds
- Investment brings SCIF’s global investment commitment in smart cities to over EUR 600 million
Kenosha, Wisconsin, 31 January 2023. PATRIZIA, a leading partner for global real assets, has invested in its latest FiberCity® network project in the US that will bring high-speed internet to the city of Kenosha.
Kenosha FiberCity® in Wisconsin, USA, will be funded through the investment from SCIF, which is an innovative investment vehicle funded by Dutch pension fund manager APG and managed by PATRIZIA Infrastructure on behalf of Dutch pension funds, ABP and PPF APG. This latest deal sees PATRIZIA’s commitment to smart city investment surpass EUR 600 million.
The FTTP network is being delivered by SiFi Networks, North America’s leading privately owned telecommunications company. When complete, Kenosha FiberCity® will provide 10 gigabit enabled speeds to 40,000 residents and businesses in the city. It is the sixth US city to benefit from the partnership between SiFi Networks and SCIF. The construction of the approx. 700 miles of fibre and 56 cabinets is expected to be completed by November 2025.
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.”
Among the benefits this provides the city, it will enable consumers greater choice of internet providers and pave the way for Kenosha to become a smart city in future. With nearly half of its population under 35 years of age, high-speed internet will be vital for supporting the jobs economy in Kenosha.
Ben Bawtree-Jobson, Chief Executive 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.”
SCIF was established in November 2018 and targets investments that enable the implementation of a wide range of smart city infrastructure solutions, allowing cities to more efficiently allocate resources and improve the lived environment.
Last year, SCIF made its first investments in Europe, creating a EUR 180 million portfolio of Italian smart streetlighting companies. Kenosha is SCIF’s ninth investment, with the fund committed to investing over EUR 600 million in smart city projects in total.
PATRIZIA: A leading partner for global real assets
With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 38 years. PATRIZIA manages more than EUR 57 billion in assets and employs over 1,000 professionals at 28 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped around 250,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 23 years. You can find further information atwww.patrizia.ag
About SiFi Networks
Founded in 2013, SiFi Networks privately funds, builds and operates citywide, open-access, Smart City enabled fiber networks across the USA. SiFi is currently working alongside its delivery partners with more than 40 cities across the United States, covering over 1.5 million homes and businesses and has over 100 cities interested in becoming a FiberCity®. SiFi’s open-access business model allows multiple internet service providers to deliver various services and offerings on its network.
For further information, please visit https://www.sifinetworks.com
As the largest pension services provider in the Netherlands, APG looks after the pensions of 4.8 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €521 billion (December 2022) in pension assets. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing.
APG has been an active infrastructure investor since 2004, investing approximately €24.9 billion to date and managing 52 direct stakes in portfolio companies. APG’s investments include assets within energy and utilities, telecommunications, and transport infrastructure. APG’s Global Infrastructure team is comprised of 41 investment professionals.
For further information, please visit https://apg.nl/en/
Phone: +44 7442 965485