CHICAGO, Could 10, 2021 /PRNewswire/ — ExteNet Systems, the main personal proprietor and operator of converged communications infrastructure delivering superior mobility and fiber connectivity, has closed its beforehand introduced strategic funding by Manulife Funding Administration. Manulife Funding Administration’s dedication was sourced for the John Hancock Life Insurance coverage Firm (U.S.A.) steadiness sheet in addition to third get together managed accounts. Manulife Funding Administration joins present main traders, Digital Colony and Stonepeak Infrastructure Companions, with this transaction. The funding supplies the Manulife-led consortium roughly 30% possession of ExteNet. ExteNet plans to leverage the capital infusion in ongoing 5G community densification because it continues to tackle superior connectivity wants of its clients, together with cellular community operators (MNOs), carriers, property homeowners and enterprises.
“Manulife Funding Administration is a useful addition to ExteNet’s investor group as we proceed to construct and function high-performance next-generation communications infrastructure nationwide,” stated Marc Ganzi, Government Chairman of ExteNet. “We look ahead to working with the Manulife crew to speed up ExteNet’s subsequent section of development and ship tomorrow’s connectivity at this time.”
“In our more and more linked society, ExteNet’s built-in portfolio of progressive, superior connectivity options positions the Firm on the forefront of the continuing 5G digital transformation. Our partnership with Manulife Funding Administration will enable us to increase our market management and seize the numerous alternatives forward,” stated Brian McMullen, Associate at Stonepeak.
“With the strong 5G demand drivers for small cell and DAS networks, ExteNet is well-positioned to stay the main impartial supplier in that house. Manulife is trying ahead to working alongside ExteNet’s world-class crew to ship subsequent technology communications infrastructure and providers to create enhanced worth for all our stakeholders,” said Steve Blewitt, International Head of Non-public Markets, Manulife Funding Administration.
“The profitable CBRS and C-Band spectrum auctions function validation for the way forward for 5G, and I’m happy to say that our technical management, customer-first and solution-focused method continues to set us aside,” stated Jim Hyde, President and CEO at ExteNet. “I’m excited to work with our latest accomplice, Manulife Funding Administration, as our ExteNet crew builds the next-generation communications infrastructure and continues the rollout of our Fiber-First method, which ensures that the underlying infrastructure is powerful, scalable and carrier-grade, to ship superior connectivity for companies and communities throughout the USA.”
PJT Companions served as monetary advisors to ExteNet and its present traders. TAP Advisors served as monetary advisors to Manulife Funding Administration. Simpson, Thacher & Bartlett LLP offered authorized illustration to ExteNet, and Paul, Weiss, Rifkind, Wharton & Garrison represented Manulife Funding Administration. Monetary phrases of the transaction should not being disclosed.
About ExteNet Programs, Inc.
Lisle, IL-based ExteNet Systems, Inc. is the nation’s largest privately held supplier of converged communications infrastructure and providers addressing outside and in-building wi-fi, fiber and different superior connectivity wants of its clients. Our clients embody cellular community operators (MNOs), actual property homeowners, property managers, wholesale carriers, enterprises, municipalities and rural carriers. Our outside small cell and DAS networks are deployed in quite a lot of city, suburban and rural environments whereas indoor networks are deployed in iconic sports activities and leisure venues, conference facilities, business workplace buildings, school campuses, healthcare amenities, inns and resorts, and transit methods nationwide. For extra info, please go to https://extenetsystems.com/. “ExteNet®” is a registered trademark of ExteNet Programs, Inc.
About Manulife Funding Administration
Manulife Funding Administration is the worldwide wealth and asset administration section of Manulife Monetary Company. We draw on greater than a century of monetary stewardship and the complete sources of our guardian firm to serve people, establishments, and retirement plan members worldwide. Headquartered in Toronto, our main capabilities in private and non-private markets are strengthened by an funding footprint that spans 17 international locations and territories. We complement these capabilities by offering entry to a community of unaffiliated asset managers from around the globe. We’re dedicated to investing responsibly throughout our companies. We develop progressive international frameworks for sustainable investing, collaboratively interact with firms in our securities portfolios, and preserve a excessive customary of stewardship the place we personal and function property, and we imagine in supporting monetary well-being by our office retirement plans. Right this moment, plan sponsors around the globe depend on our retirement plan administration and funding experience to assist their workers plan for, save for, and stay a greater retirement. Not all choices can be found in all jurisdictions.
SOURCE ExteNet Programs, Inc.