CEBF announces final close

• The Connecting Europe Broadband Fund (CEBF) reaches €555 million, above the target size of €500 million.
• The CEBF has already invested in eight projects across Europe out of its 15-20 targeted projects.
• The CEBF is actively pursuing its investment program in a dynamic environment, pushing for an acceleration of fiber deployment across Europe.

Luxembourg, June 30, 2021 – Cube Infrastructure Managers (Cube) is pleased to announce today it has raised €555 million for its Connecting Europe Broadband Fund (CEBF), above the target size of €500 million. €160 million, or about 30% of the fund, were notably raised from 6 private sector institutional LPs.

The fund attracted several European private investors in addition to the anchor investors, namely, the European Commission, the European Investment Bank, the German KfW Bankengruppe, the Italian Cassa Depositi e Prestiti and France’s Caisse des Dépôts et Consignations.

Since its launch, the CEBF has successfully invested in eight projects across Europe – Croatia, Slovenia, UK, Spain, Italy, Czech Republic and Netherlands – and will pursue its investment program in economically and technically viable greenfield broadband projects, in line with the European connectivity targets. These investments aim to allow more citizens and corporations to access higher speeds for uploading and downloading data.

In line with its investment strategy, the CEBF also aims at responding to the growing demand for financing smaller-scale broadband projects across Europe. The Fund is expected to unlock significant additional investments for broadband rollout in areas where very high-capacity networks are not deployed yet.

Renaud de Matharel, CEO and Managing Partner of Cube IM said: “This closing bears testament to the quality of both the team and the projects we are funding. We look forward to unlock the CEBF full potential, by investing in greenfield and expansion projects in the European broadband infrastructure space.”

Izzet Guney, Managing Director at Cube Infrastructure Managers, said: “This closing is a real success, and we are now planning to invest in additional projects. The CEBF will drive the deployment of new generation of fibre networks in Europe, allowing more connectivity both for citizens and for businesses across Europe.”