Northleaf Capital Partners, a global private markets investment firm with $21 billion in private equity, private credit and infrastructure commitments, has acquired a controlling interest in Mercury Broadband, a provider of internet and digital phone services for homes and businesses across rural markets in the Midwest.
Funds managed by Northleaf will invest up to $230 million over the next several years to support Mercury Broadband’s initiative of providing broadband internet services for underserved, rural communities across the midwestern U.S. Construction for the project is expected to span over 12,000 miles and deliver internet to thousands of customers. The effort will take approximately six years and will include hundreds of fixed wireless access sites.
“Mercury Broadband’s commitment to bridging the digital divide is an excellent fit with our communications infrastructure investment strategy and provides our investors with exposure to an attractive sector with a compelling risk/return profile and significant growth potential,” says Chris Rigobon, director at Northleaf.