Baker McKenzie Advised APG Asset Management On Strategic Investment In euNetworks
Baker McKenzie Advised APG Asset Management On Strategic Investment In euNetworks
Baker McKenzie has advised APG Asset Management (APG), the largest pensions provider in the Netherlands, on its strategic investment in Stonepeak's €2.1 billion equity recapitalisation of euNetworks. This investment is a key component of Stonepeak’s strategy to bolster the growth of euNetworks, a leading provider of city and long-haul fibre networks across Europe.
In addition to APG, the recapitalisation involved several notable investors, including a Stonepeak-managed vehicle anchored by Mercer and Aware Super, as well as a direct investment from the Investment Management Corporation of Ontario (IMCO). This equity commitment comes on the heels of euNetworks' recent debt refinancing announced in June, further propelling the company’s momentum as it continues to scale and focus on its strategic objectives.
euNetworks specializes in constructing and investing in fibre networks that connect critical European data centres and hubs. The company operates deep fibre networks in 18 cities and maintains a long-haul network that extends 45,000 route kilometres across 17 countries. Leading the data centre connectivity market in Europe, euNetworks directly links more than 542 data centres and is well-positioned to enhance its leadership as demand for data centre connectivity and bandwidth infrastructure continues to rise.
The Baker McKenzie team, led by London Financial Sponsor Partners Nick Rainsford and David Allen, provided comprehensive support throughout the transaction. The team also included Financial Sponsor Associates Nina Janic and Kirstie Trupp, Merger Control Partners Luis Gomez and Xandra Stahlberg, Associate Sietske Brinksma, and Tax Partner Alistair Craig.
Nick Rainsford commented on the transaction: “We are delighted to have supported our longstanding client, APG, on this strategic investment in euNetworks. This deal underscores APG’s commitment to fostering sustainable growth and enhancing high-quality connectivity solutions across Europe. It also highlights our expertise in managing large, complex global digital infrastructure transactions.”
