Barings Completes Majority Stake Acquisition in Gigasphere Holdings LLC
Nov 13, 2019
Barings, one of the world’s leading financial services firms, announced today a substantial investment in GigaSphere Holdings LLC (the “Company”) on behalf of clients and accounts managed by Barings. The Company, which does business under the brand name GigaMonster, provides fiber-optic-based telecommunications products and services to the multifamily and commercial real estate industries.
“Worldwide 5G network infrastructure revenue is projected to reach $4.2 billion in 2020* and GigaMonster’s UAN infrastructure technology is designed to support the mobile 5G market of the future,” said Mike Baumstein, Deputy Head of the Barings Private Equity & Real Assets team. “Barings has been deploying capital in cell towers, DAS systems, fiber networks, spectrum and data centers since 2009. As 5G and the Internet of Things continues to accelerate at a rapid pace, we believe this investment is one that will add innovation and diversification to our client’s portfolios and will continue to leverage the experiences of the Barings real estate group.”
Based in Atlanta, GigaMonster offers customer-centric networks in multi-family communities and commercial buildings. The Company leverages strategic relationships with property owners to install its carrier-neutral, fiber-optic-based Universal Access Network (“UAN”) for its customers. GigaMonster is contracted to provide services to over 450 properties in over 45 markets across the U.S.
“GigaMonster and Barings recognize the need for wireless, carrier-neutral network solutions to support the 5G movement, and other technologies,” said Bill Dodd, GigaMonster CEO. “We are excited to partner with Barings in order to deploy the UAN in the buildings and campuses owned and controlled by our strategic partners.”
Hogan Lovells U.S. LLP served as Barings’ legal advisor on the transaction.
MVP Capital, LLC served as the Company’s financial advisor on the transaction.
*Gartner, Aug. 2019
About Barings Alternative Investments
Barings Alternative Investments (BAI), part of Barings, is a 430+ associate team located across 11 countries that manages over $51 billion* in client capital. BAI seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and real estate. Follow us on LinkedIn at www.linkedin.com/showcase/barings-alternative-investments.
*As of September 30, 2019
Barings is a $335+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. Learn more at www.Barings.com.
*As of September 30, 2019
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